Colfax (NYSE:CFX) Share Price Passes Above Two Hundred Day Moving Average of $32.47

Colfax Co. (NYSE:CFX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.47 and traded as high as $38.58. Colfax shares last traded at $38.24, with a volume of 618,429 shares.

A number of research firms have recently weighed in on CFX. KeyCorp increased their price target on Colfax from $36.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, November 18th. UBS Group upgraded Colfax from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $40.00 in a report on Monday, November 9th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $52.00 price target on shares of Colfax in a report on Tuesday, November 24th. Morgan Stanley increased their price target on Colfax from $30.00 to $39.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 15th. Finally, Bank of America increased their price target on Colfax from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $34.26.

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.96 and a current ratio of 1.64. The company has a market cap of $4.53 billion, a price-to-earnings ratio of -764.80, a price-to-earnings-growth ratio of 3.64 and a beta of 2.18. The business has a 50-day simple moving average of $36.55 and a 200-day simple moving average of $32.47.

Colfax (NYSE:CFX) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $805.93 million for the quarter, compared to analyst estimates of $757.46 million. Colfax had a positive return on equity of 6.04% and a negative net margin of 0.24%. Colfax’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. Research analysts anticipate that Colfax Co. will post 1.38 EPS for the current year.

In other news, CFO Christopher M. Hix sold 4,483 shares of the firm’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $37.41, for a total transaction of $167,709.03. Following the sale, the chief financial officer now owns 59,449 shares of the company’s stock, valued at approximately $2,223,987.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Shyam Kambeyanda sold 2,357 shares of the firm’s stock in a transaction dated Monday, December 14th. The stock was sold at an average price of $37.41, for a total value of $88,175.37. Following the sale, the executive vice president now directly owns 54,855 shares in the company, valued at approximately $2,052,125.55. The disclosure for this sale can be found here. Insiders sold a total of 7,841 shares of company stock worth $289,028 in the last ninety days. 12.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CFX. Psagot Investment House Ltd. acquired a new stake in shares of Colfax during the 3rd quarter worth about $42,000. Advisor Group Holdings Inc. raised its position in shares of Colfax by 65.2% during the 2nd quarter. Advisor Group Holdings Inc. now owns 2,891 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 1,141 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of Colfax during the 2nd quarter worth about $206,000. ProShare Advisors LLC acquired a new position in Colfax during the third quarter worth approximately $224,000. Finally, Virtu Financial LLC acquired a new position in Colfax during the third quarter worth approximately $271,000. 93.05% of the stock is currently owned by institutional investors and hedge funds.

Colfax Company Profile (NYSE:CFX)

Colfax Corporation operates as a diversified technology company worldwide. The company operates through two segments, Medical Technology and Fabrication Technology. The Medical Technology segment offers orthopedic solutions, including orthopedic devices and braces, reconstructive and surgical implants, footwear, bone growth stimulators, and software and services spanning the full continuum of patient care, as well as injury prevention, rehabilitation, pain management, and physical therapy under the Aircast, Chattanooga, CMF, Compex, DonJoy, ProCare, DJO Surgical, Dr.

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