Colfax Corporation (CFX) Cut to “Market Perform” at Cowen and Company

Cowen and Company lowered shares of Colfax Corporation (NYSE:CFX) from an outperform rating to a market perform rating in a report issued on Wednesday morning, MarketBeat.com reports.

Several other equities analysts also recently commented on CFX. BidaskClub raised shares of Colfax Corporation from a hold rating to a buy rating in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of Colfax Corporation from a buy rating to a hold rating in a report on Monday, July 10th. Wolfe Research initiated coverage on shares of Colfax Corporation in a report on Tuesday, July 11th. They issued a market perform rating on the stock. Robert W. Baird raised shares of Colfax Corporation from a neutral rating to an outperform rating and boosted their target price for the stock from $47.00 to $50.00 in a report on Monday, July 31st. Finally, KeyCorp raised shares of Colfax Corporation from a sector weight rating to an overweight rating and set a $46.00 target price on the stock in a report on Friday, August 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $46.50.

Colfax Corporation (NYSE:CFX) opened at 42.75 on Wednesday. Colfax Corporation has a one year low of $29.28 and a one year high of $42.93. The stock has a 50 day moving average of $41.65 and a 200-day moving average of $40.28. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 33.63 and a beta of 1.32.

Colfax Corporation (NYSE:CFX) last released its earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The firm had revenue of $965.83 million for the quarter, compared to the consensus estimate of $940.31 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Colfax Corporation will post $1.72 EPS for the current fiscal year.

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In related news, EVP Daniel A. Pryor sold 3,574 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the sale, the executive vice president now owns 40,224 shares in the company, valued at $1,654,413.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen Wittig sold 29,189 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the sale, the senior vice president now owns 15,479 shares in the company, valued at approximately $608,324.70. The disclosure for this sale can be found here. Insiders sold 33,202 shares of company stock worth $1,312,182 in the last 90 days. 10.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CFX. BlackRock Inc. increased its position in Colfax Corporation by 13,409.0% in the first quarter. BlackRock Inc. now owns 4,103,892 shares of the industrial products company’s stock worth $161,119,000 after purchasing an additional 4,073,513 shares during the last quarter. Oak Ridge Investments LLC bought a new position in Colfax Corporation during the second quarter valued at $46,085,000. FMR LLC increased its position in Colfax Corporation by 32.8% during the first quarter. FMR LLC now owns 4,243,210 shares of the industrial products company’s stock valued at $166,588,000 after acquiring an additional 1,048,360 shares during the last quarter. Balyasny Asset Management LLC bought a new position in Colfax Corporation during the second quarter valued at $35,722,000. Finally, Point72 Asset Management L.P. increased its position in Colfax Corporation by 1,233.6% during the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock valued at $35,499,000 after acquiring an additional 836,400 shares during the last quarter. Institutional investors own 75.22% of the company’s stock.

Colfax Corporation Company Profile

Several other equities analysts also recently commented on CFX. BidaskClub raised shares of Colfax Corporation from a hold rating to a buy rating in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of Colfax Corporation from a buy rating to a hold rating in a report on Monday, July 10th. Wolfe Research initiated coverage on shares of Colfax Corporation in a report on Tuesday, July 11th. They issued a market perform rating on the stock. Robert W. Baird raised shares of Colfax Corporation from a neutral rating to an outperform rating and boosted their target price for the stock from $47.00 to $50.00 in a report on Monday, July 31st. Finally, KeyCorp raised shares of Colfax Corporation from a sector weight rating to an overweight rating and set a $46.00 target price on the stock in a report on Friday, August 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $46.50.

Colfax Corporation (NYSE:CFX) opened at 42.75 on Wednesday. Colfax Corporation has a one year low of $29.28 and a one year high of $42.93. The stock has a 50 day moving average of $41.65 and a 200-day moving average of $40.28. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 33.63 and a beta of 1.32.

Colfax Corporation (NYSE:CFX) last released its earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The firm had revenue of $965.83 million for the quarter, compared to the consensus estimate of $940.31 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Colfax Corporation will post $1.72 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another website, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/21/colfax-corporation-cfx-cut-to-market-perform-at-cowen-and-company.html.

In related news, EVP Daniel A. Pryor sold 3,574 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the sale, the executive vice president now owns 40,224 shares in the company, valued at $1,654,413.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen Wittig sold 29,189 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the sale, the senior vice president now owns 15,479 shares in the company, valued at approximately $608,324.70. The disclosure for this sale can be found here. Insiders sold 33,202 shares of company stock worth $1,312,182 in the last 90 days. 10.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CFX. BlackRock Inc. increased its position in Colfax Corporation by 13,409.0% in the first quarter. BlackRock Inc. now owns 4,103,892 shares of the industrial products company’s stock worth $161,119,000 after purchasing an additional 4,073,513 shares during the last quarter. Oak Ridge Investments LLC bought a new position in Colfax Corporation during the second quarter valued at $46,085,000. FMR LLC increased its position in Colfax Corporation by 32.8% during the first quarter. FMR LLC now owns 4,243,210 shares of the industrial products company’s stock valued at $166,588,000 after acquiring an additional 1,048,360 shares during the last quarter. Balyasny Asset Management LLC bought a new position in Colfax Corporation during the second quarter valued at $35,722,000. Finally, Point72 Asset Management L.P. increased its position in Colfax Corporation by 1,233.6% during the first quarter. Point72 Asset Management L.P. now owns 904,200 shares of the industrial products company’s stock valued at $35,499,000 after acquiring an additional 836,400 shares during the last quarter. Institutional investors own 75.22% of the company’s stock.

Colfax Corporation Company Profile

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.

Analyst Recommendations for Colfax Corporation (NYSE:CFX)

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