Colfax (NYSE:CFX) PT Raised to $45.00

Colfax (NYSE:CFX) had its price objective boosted by research analysts at Morgan Stanley from $42.00 to $45.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 1.95% from the stock’s previous close.

A number of other brokerages also recently issued reports on CFX. Deutsche Bank Aktiengesellschaft boosted their price target on Colfax from $53.00 to $54.00 and gave the company a “hold” rating in a report on Friday, March 12th. Citigroup upped their target price on Colfax from $35.00 to $41.00 in a research note on Monday, February 22nd. KeyCorp boosted their price target on Colfax from $47.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, March 18th. Barclays restated an “underweight” rating and issued a $45.00 target price (down from $48.00) on shares of Colfax in a report on Tuesday, April 13th. Finally, TheStreet upgraded Colfax from a “c” rating to a “b-” rating in a report on Monday, February 22nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $39.39.

Shares of NYSE:CFX opened at $44.14 on Monday. Colfax has a 12-month low of $21.76 and a 12-month high of $50.26. The company has a market capitalization of $5.97 billion, a PE ratio of -882.80, a PEG ratio of 2.61 and a beta of 2.15. The business has a 50 day moving average of $45.64 and a two-hundred day moving average of $38.80. The company has a current ratio of 1.64, a quick ratio of 0.96 and a debt-to-equity ratio of 0.63.

Colfax (NYSE:CFX) last announced its quarterly earnings results on Wednesday, February 17th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. Colfax had a positive return on equity of 6.04% and a negative net margin of 0.24%. The company had revenue of $828.12 million during the quarter, compared to the consensus estimate of $830.20 million. Equities research analysts predict that Colfax will post 1.38 earnings per share for the current fiscal year.

In related news, CEO Matthew L. Trerotola sold 6,057 shares of the stock in a transaction dated Thursday, February 25th. The stock was sold at an average price of $46.01, for a total transaction of $278,682.57. Following the transaction, the chief executive officer now owns 233,699 shares of the company’s stock, valued at approximately $10,752,490.99. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Christopher M. Hix sold 18,206 shares of the stock in a transaction dated Wednesday, March 10th. The stock was sold at an average price of $46.74, for a total value of $850,948.44. Following the transaction, the chief financial officer now directly owns 81,522 shares in the company, valued at approximately $3,810,338.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,524 shares of company stock worth $1,886,484. 12.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CFX. Norges Bank acquired a new stake in Colfax in the 4th quarter valued at about $43,307,000. Artisan Partners Limited Partnership acquired a new stake in Colfax in the 4th quarter valued at about $30,304,000. Jennison Associates LLC acquired a new stake in Colfax in the 4th quarter valued at about $27,348,000. Hood River Capital Management LLC raised its position in Colfax by 75.7% in the 4th quarter. Hood River Capital Management LLC now owns 1,482,952 shares of the industrial products company’s stock valued at $56,708,000 after purchasing an additional 638,767 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in Colfax by 497.1% in the 4th quarter. Hennessy Advisors Inc. now owns 411,400 shares of the industrial products company’s stock valued at $15,732,000 after purchasing an additional 342,500 shares in the last quarter. 99.56% of the stock is currently owned by institutional investors.

About Colfax

Colfax Corporation operates as a diversified technology company worldwide. The company operates in two segments, Fabrication Technology and Medical Technology. The Fabrication Technology segment formulates, develops, manufactures, and supplies consumable products and equipment, including cutting, joining, and automated welding products, as well as gas control equipment.

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