Colfax (CFX) Downgraded by ValuEngine to “Strong Sell”

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Colfax (NYSE:CFX) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday, ValuEngine reports.

CFX has been the topic of a number of other research reports. Goldman Sachs Group initiated coverage on Colfax in a report on Friday, April 5th. They set a “buy” rating and a $34.00 target price on the stock. CIBC reaffirmed an “average” rating and set a $20.00 target price on shares of Colfax in a report on Monday, January 14th. Oppenheimer reaffirmed a “buy” rating on shares of Colfax in a report on Thursday, February 14th. Barclays raised Colfax from an “underweight” rating to an “equal weight” rating and set a $28.70 target price on the stock in a report on Friday, March 15th. They noted that the move was a valuation call. Finally, Raymond James reaffirmed a “buy” rating and set a $25.00 target price on shares of Colfax in a report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.05.

NYSE:CFX traded down $1.35 during trading hours on Wednesday, reaching $26.99. 3,641,800 shares of the stock were exchanged, compared to its average volume of 2,246,731. The company has a quick ratio of 1.22, a current ratio of 1.63 and a debt-to-equity ratio of 0.34. Colfax has a 52 week low of $18.95 and a 52 week high of $37.05. The company has a market cap of $3.56 billion, a PE ratio of 11.68, a P/E/G ratio of 0.94 and a beta of 1.57.

Colfax (NYSE:CFX) last released its earnings results on Wednesday, May 8th. The industrial products company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Colfax had a return on equity of 7.79% and a net margin of 3.82%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $0.48 EPS. Colfax’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts expect that Colfax will post 2.6 EPS for the current fiscal year.

In related news, CEO Ian Brander sold 4,260 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $27.01, for a total value of $115,062.60. Following the sale, the chief executive officer now owns 21,876 shares of the company’s stock, valued at approximately $590,870.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Lynn H. Clark sold 2,666 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $26.50, for a total value of $70,649.00. Following the completion of the sale, the senior vice president now directly owns 35,662 shares in the company, valued at approximately $945,043. The disclosure for this sale can be found here. Company insiders own 12.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Triad Investment Management increased its position in Colfax by 45.8% in the 1st quarter. Triad Investment Management now owns 140,251 shares of the industrial products company’s stock valued at $4,163,000 after acquiring an additional 44,053 shares during the period. Great West Life Assurance Co. Can increased its position in Colfax by 23.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 11,293 shares of the industrial products company’s stock valued at $228,000 after acquiring an additional 2,136 shares during the period. Pinnacle Bank acquired a new stake in Colfax in the 4th quarter valued at approximately $36,000. Stephens Inc. AR acquired a new stake in Colfax in the 4th quarter valued at approximately $1,898,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in Colfax in the 4th quarter valued at approximately $340,000. 80.08% of the stock is currently owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Colfax (NYSE:CFX)

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