Colfax Corporation (NYSE:CFX) Experiences Lighter than Average Trading Volume

Advertisement

706K shares changed hands on Friday. Trading volume was down 36.06% under the stocks average daily volume.

There has been some selling insider activity on Colfax Corporation (NYSE:CFX) recently. A. Lynne Puckett, Sr VP reported the sale of 10,882 shares. The shares were purchased at an average price of $40.14. The Sr VP now owns $1,205,204 of the stock according to the SEC filing. Director Rajiv Vinnakota sold 377 shares at an average price of $40.09 on Fri the 19th. That brings the Director’s holdings to $698,207 as reported to the SEC.

A. Lynne Puckett, Sr VP let go of $11,347 worth of shares at an average price of $39.40 on Wed the 17th. The Sr VP now owns $1,046,149 of the stock per an SEC filing yesterday.

Here are a few other firms who have also updated their positions. Columbus Circle Investors downsized its investment by shedding 276,687 shares a decrease of 44.0% as of 06/30/2017. Columbus Circle Investors now holds 352,675 shares valued at $13,885,000. The value of the position overall is down by 43.8%. As of the end of the quarter Federated Investors Inc /pa/ had disposed of 183,261 shares trimming its holdings by 82.8%. The value in dollars decreased from $8,685,000 to $1,494,000 a change of $7,191,000 quarter to quarter.

As of quarter end Marshall Wace North America L.p. had bought a total of 11,500 shares growing its stake by 158.7%. The value of the investment in Colfax Corporation went from $283,000 to $731,000 increasing 158.3% quarter over quarter. Legal & General Group Plc cut its stake by selling 1,374 shares a decrease of 1.5% in the quarter. Legal & General Group Plc currently owns 87,485 shares with a value of $3,441,000. The total value of its holdings decreased 1.3%.

On July 31 the stock rating was upgraded to “Outperform” from “Market Perform” in an announcement from Baird. On July 11, 2017 Wolfe Research initiated coverage on the stock setting a rating of “Peer Perform”.

Equity analyst Credit Suisse initiated coverage on CFX with an initial rating of “Outperform”. On November 14 the company was upgraded from “” to “Buy” by analysts at Argus.

On May 25 the company was upgraded from “Underweight” to “Equalweight” in a report issued by Barclays. On May 17 the company was set at “Buy” in a report from BB&T Capital a boost from the previous “” rating.

The company is trading up by 0.48 percent from yesterday’s close. Shares are trading at $41.47 slightly over the 50 day moving average which is $39.94 and just above the 200 day moving average of $39.56. The 50 day moving average was up $1.53 or +3.84% and the 200 day average was up $1.91.

Colfax Corporation currently has a P/E ratio of 32.63 and the market cap of the company is 5.10B. In the last earnings report the EPS was $1.27 and is estimated to be $1.74 for the current year with 123,036,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.53 with next year’s EPS projected to be $2.02.

Colfax Corporation, launched on February 25, 1998, is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Business’s segments include Gas and Fluid Handling, and Fabrication Technology..