Colfax Corp (NYSE:CFX) shares gapped down before the market opened on Thursday . The stock had previously closed at $26.97, but opened at $26.42. Colfax shares last traded at $25.09, with a volume of 174367 shares traded.
CFX has been the subject of several recent analyst reports. Raymond James reaffirmed a “buy” rating and set a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. Goldman Sachs Group began coverage on shares of Colfax in a research note on Friday, April 5th. They set a “buy” rating and a $34.00 target price for the company. Gabelli reissued a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. Oppenheimer reissued a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. Finally, Longbow Research reissued a “buy” rating and set a $38.00 target price on shares of Colfax in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Colfax presently has a consensus rating of “Buy” and a consensus target price of $30.05.
The company has a market cap of $2.95 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.06 and a current ratio of 1.53.
Colfax (NYSE:CFX) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. Colfax had a net margin of 1.68% and a return on equity of 8.16%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, analysts anticipate that Colfax Corp will post 2.58 EPS for the current fiscal year.
In related news, CEO Ian Brander sold 4,260 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $27.01, for a total value of $115,062.60. Following the completion of the sale, the chief executive officer now directly owns 21,876 shares of the company’s stock, valued at $590,870.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Kambeyanda sold 11,764 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $26.27, for a total transaction of $309,040.28. Following the completion of the sale, the insider now directly owns 51,263 shares of the company’s stock, valued at $1,346,679.01. The disclosure for this sale can be found here. 12.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Triad Investment Management raised its holdings in Colfax by 45.8% in the first quarter. Triad Investment Management now owns 140,251 shares of the industrial products company’s stock worth $4,163,000 after purchasing an additional 44,053 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in Colfax by 23.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 11,293 shares of the industrial products company’s stock worth $228,000 after purchasing an additional 2,136 shares in the last quarter. Pinnacle Bank bought a new position in Colfax in the fourth quarter worth about $36,000. Stephens Inc. AR bought a new position in Colfax in the fourth quarter worth about $1,898,000. Finally, Defender Capital LLC. bought a new position in Colfax in the fourth quarter worth about $3,122,000. 87.27% of the stock is owned by institutional investors.
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Colfax Company Profile (NYSE:CFX)
Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.
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