Colfax (NYSE:CFX) had its target price reduced by Morgan Stanley from $30.00 to $29.00 in a report released on Wednesday morning, Stock Target Advisor reports. They currently have an equal weight rating on the industrial products company’s stock.

CFX has been the topic of several other reports. CIBC restated a hold rating on shares of Just Energy Group in a research note on Friday, June 7th. Longbow Research reissued a sell rating and issued a $14.00 price target on shares of Goodyear Tire & Rubber in a report on Thursday, March 21st. Raymond James restated a buy rating and set a $21.00 price target on shares of Colfax in a research note on Thursday, May 2nd. Barclays cut their price objective on shares of Pivotal Software from $23.00 to $21.00 and set an equal weight rating on the stock in a report on Friday, March 15th. Finally, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $28.81.

NYSE:CFX opened at $27.14 on Wednesday. Colfax has a 52 week low of $18.95 and a 52 week high of $37.05. The company’s 50 day moving average price is $26.41. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.53 and a quick ratio of 1.06. The stock has a market capitalization of $3.19 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.86 and a beta of 1.64.

Colfax (NYSE:CFX) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.04 billion. Colfax had a net margin of 1.68% and a return on equity of 8.16%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. On average, equities analysts anticipate that Colfax will post 2.55 earnings per share for the current fiscal year.

In other news, CFO Christopher M. Hix sold 4,750 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total value of $128,630.00. Following the sale, the chief financial officer now owns 29,841 shares in the company, valued at $808,094.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Kambeyanda sold 11,764 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $26.27, for a total transaction of $309,040.28. Following the completion of the sale, the insider now owns 51,263 shares in the company, valued at approximately $1,346,679.01. 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 bought and sold shares of the stock. Triad Investment Management grew its position in Colfax by 45.8% during the 1st quarter. Triad Investment Management now owns 140,251 shares of the industrial products company’s stock worth $4,163,000 after purchasing an additional 44,053 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of Colfax in the first quarter worth about $128,000. Pinnacle Bank purchased a new stake in shares of Colfax in the fourth quarter worth about $36,000. Great West Life Assurance Co. Can grew its holdings in Colfax by 23.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 11,293 shares of the industrial products company’s stock worth $228,000 after acquiring an additional 2,136 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Colfax during the first quarter worth about $497,000. Institutional investors own 93.16% of the company’s stock.

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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Analyst Recommendations for Colfax (NYSE:CFX)

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