Morgan Stanley Cuts Colfax (CFX) Price Target to $32.00

Colfax (NYSE:CFX) had its price target decreased by Morgan Stanley from $34.00 to $32.00 in a research report report published on Tuesday. Morgan Stanley currently has a hold rating on the industrial products company’s stock.

CFX has been the subject of a number of other research reports. Stifel Nicolaus raised their price target on Colfax from $37.00 to $40.00 and gave the company a buy rating in a research report on Monday, October 8th. Deutsche Bank set a $30.00 price target on Colfax and gave the company a hold rating in a research report on Friday, October 26th. Cowen upgraded Colfax from a market perform rating to an outperform rating in a research report on Friday, August 17th. Argus dropped their price target on Colfax from $40.00 to $34.00 and set a buy rating for the company in a research report on Monday. Finally, Oppenheimer upgraded Colfax from a market perform rating to an outperform rating and set a $42.00 price target for the company in a research report on Tuesday, September 4th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $34.77.

Colfax stock opened at $28.85 on Tuesday. Colfax has a one year low of $26.25 and a one year high of $42.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.37. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.93 and a beta of 1.35.

Colfax (NYSE:CFX) last announced its quarterly earnings results on Thursday, October 25th. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Colfax had a return on equity of 6.97% and a net margin of 3.03%. The business had revenue of $875.37 million during the quarter, compared to analysts’ expectations of $893.38 million. On average, analysts predict that Colfax will post 2.25 earnings per share for the current year.

In related news, CEO Matthew L. Trerotola sold 20,488 shares of Colfax stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total transaction of $682,660.16. Following the completion of the sale, the chief executive officer now owns 266,746 shares in the company, valued at approximately $8,887,976.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in Colfax by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 4,126,083 shares of the industrial products company’s stock worth $148,786,000 after purchasing an additional 84,025 shares during the last quarter. James Investment Research Inc. purchased a new stake in Colfax during the 3rd quarter worth approximately $2,077,000. Russell Investments Group Ltd. increased its holdings in Colfax by 32.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 114,158 shares of the industrial products company’s stock worth $4,116,000 after purchasing an additional 28,014 shares during the last quarter. Strs Ohio increased its holdings in Colfax by 70.6% during the 3rd quarter. Strs Ohio now owns 725,000 shares of the industrial products company’s stock worth $26,143,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Aperio Group LLC increased its holdings in Colfax by 10.2% during the 3rd quarter. Aperio Group LLC now owns 77,986 shares of the industrial products company’s stock worth $2,812,000 after purchasing an additional 7,225 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

About Colfax

Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.

Read More: Why do companies engage in swaps?

Analyst Recommendations for Colfax (NYSE:CFX)

Receive News & Ratings for Colfax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colfax and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply