Colfax (NYSE:CFX) Price Target Increased to $37.00 by Analysts at Deutsche Bank

Colfax (NYSE:CFX) had its price target increased by Deutsche Bank from $36.00 to $37.00 in a report released on Wednesday, BenzingaRatingsTable reports. They currently have a hold rating on the industrial products company’s stock.

Several other research firms have also weighed in on CFX. KeyCorp lowered their price objective on shares of Colfax from $40.00 to $37.00 and set an overweight rating for the company in a research note on Wednesday, August 7th. ValuEngine downgraded shares of Colfax from a sell rating to a strong sell rating in a research report on Thursday, November 14th. Bank of America raised shares of Colfax from an underperform rating to a neutral rating and increased their target price for the stock from $27.00 to $37.00 in a research note on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of Colfax from $10.00 to $9.00 and set a sector perform rating for the company in a report on Thursday, October 24th. Finally, CIBC decreased their price target on shares of Colfax from $11.00 to $10.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Colfax has an average rating of Buy and a consensus target price of $28.87.

Shares of Colfax stock opened at $34.85 on Wednesday. The stock’s 50-day moving average is $33.25 and its 200 day moving average is $28.69. Colfax has a one year low of $18.95 and a one year high of $36.63. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.56 and a beta of 1.64. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.32 and a quick ratio of 1.94.

Colfax (NYSE:CFX) last issued its earnings results on Thursday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. Colfax had a positive return on equity of 9.06% and a negative net margin of 12.40%. The business had revenue of $846.52 million during the quarter, compared to the consensus estimate of $852.39 million. During the same period in the previous year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was up 61.5% on a year-over-year basis. On average, sell-side analysts expect that Colfax will post 1.98 EPS for the current fiscal year.

In related news, EVP Daniel A. Pryor sold 4,825 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $33.32, for a total value of $160,769.00. Following the transaction, the executive vice president now owns 79,689 shares of the company’s stock, valued at approximately $2,655,237.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Shyam Kambeyanda sold 4,100 shares of Colfax stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $36.06, for a total value of $147,846.00. Following the transaction, the senior vice president now owns 47,163 shares of the company’s stock, valued at approximately $1,700,697.78. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.

Several institutional investors have recently modified their holdings of CFX. Price T Rowe Associates Inc. MD boosted its position in shares of Colfax by 36.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,527,091 shares of the industrial products company’s stock valued at $575,374,000 after buying an additional 5,537,747 shares during the last quarter. Cardinal Capital Management LLC CT grew its holdings in Colfax by 2,068.0% during the second quarter. Cardinal Capital Management LLC CT now owns 2,501,056 shares of the industrial products company’s stock worth $70,105,000 after buying an additional 2,385,691 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Colfax by 34.6% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,740,569 shares of the industrial products company’s stock valued at $76,818,000 after buying an additional 704,327 shares during the last quarter. Vanguard Group Inc. raised its position in Colfax by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,978,606 shares of the industrial products company’s stock valued at $223,640,000 after buying an additional 679,665 shares during the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in Colfax in the 2nd quarter valued at $12,770,000. 99.06% of the stock is owned by hedge funds and other institutional investors.

About Colfax

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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