Research analysts at UBS Group assumed coverage on shares of Colfax (NYSE:CFX) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $36.00 price target on the industrial products company’s stock. UBS Group’s target price indicates a potential upside of 4.05% from the stock’s current price.
Several other research firms also recently commented on CFX. Argus upped their price objective on shares of Colfax from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 13th. TheStreet raised shares of Colfax from a “d+” rating to a “c-” rating in a report on Wednesday, August 5th. Morgan Stanley upped their price objective on shares of Colfax from $28.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Barclays upped their price objective on shares of Colfax from $31.00 to $33.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. assumed coverage on Colfax in a research report on Friday, May 29th. They set an “overweight” rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $30.08.
Shares of NYSE:CFX opened at $34.60 on Tuesday. The company has a market capitalization of $4.10 billion, a P/E ratio of -494.29, a price-to-earnings-growth ratio of 4.80 and a beta of 1.96. Colfax has a fifty-two week low of $12.23 and a fifty-two week high of $39.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.89 and a current ratio of 1.62. The company’s 50-day moving average is $33.06 and its 200 day moving average is $27.74.
Colfax (NYSE:CFX) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The business had revenue of $620.40 million for the quarter, compared to the consensus estimate of $581.26 million. Colfax had a negative net margin of 0.33% and a positive return on equity of 6.54%. The company’s revenue was down 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. As a group, research analysts predict that Colfax will post 1.35 earnings per share for the current year.
In related news, SVP Jason Maclean sold 2,491 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $35.32, for a total value of $87,982.12. Following the transaction, the senior vice president now directly owns 8,815 shares in the company, valued at $311,345.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher M. Hix sold 6,719 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.24, for a total transaction of $189,744.56. Following the completion of the transaction, the chief financial officer now owns 66,986 shares in the company, valued at $1,891,684.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,691 shares of company stock worth $878,326. 12.00% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of CFX. Advisor Group Holdings Inc. bought a new position in shares of Colfax in the first quarter worth approximately $33,000. Cullen Frost Bankers Inc. bought a new position in Colfax during the second quarter valued at approximately $48,000. Twin Tree Management LP bought a new position in Colfax during the second quarter valued at approximately $54,000. Tower Research Capital LLC TRC bought a new position in Colfax during the first quarter valued at approximately $64,000. Finally, Cerebellum GP LLC bought a new position in Colfax during the second quarter valued at approximately $82,000.
Colfax Company Profile
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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