Investment analysts at Barclays began coverage on shares of Colfax (NYSE:CFX) in a report released on Thursday, Marketbeat reports. The firm set an “underweight” rating on the industrial products company’s stock.
CFX has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Colfax from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, January 9th. Royal Bank of Canada restated a “buy” rating and issued a $44.00 price objective on shares of Colfax in a research report on Tuesday, November 7th. Oppenheimer restated a “hold” rating on shares of Colfax in a research report on Thursday, November 30th. Robert W. Baird restated a “buy” rating and issued a $50.00 price objective on shares of Colfax in a research report on Friday, October 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Colfax from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $44.40.
Shares of Colfax (CFX) traded down $0.15 during trading on Thursday, hitting $33.29. 965,231 shares of the company’s stock traded hands, compared to its average volume of 981,592. The company has a quick ratio of 1.47, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. Colfax has a 52 week low of $31.50 and a 52 week high of $43.29. The company has a market cap of $4,090.00, a PE ratio of -55.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.17.
In other Colfax news, EVP Daniel A. Pryor sold 53,333 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.15, for a total transaction of $2,034,653.95. Following the completion of the transaction, the executive vice president now owns 93,557 shares in the company, valued at approximately $3,569,199.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP A. Lynne Puckett sold 7,270 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $42.01, for a total value of $305,412.70. The disclosure for this sale can be found here. 10.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. FNY Managed Accounts LLC bought a new position in Colfax during the 3rd quarter worth about $160,000. Prudential Financial Inc. boosted its stake in shares of Colfax by 19.6% during the 3rd quarter. Prudential Financial Inc. now owns 34,755 shares of the industrial products company’s stock worth $1,447,000 after buying an additional 5,700 shares during the last quarter. Arlington Partners LLC acquired a new position in shares of Colfax during the 4th quarter worth about $1,243,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Colfax during the 2nd quarter worth about $327,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Colfax by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,737,287 shares of the industrial products company’s stock worth $113,984,000 after buying an additional 10,709 shares during the last quarter. Hedge funds and other institutional investors own 75.82% of the company’s stock.
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Colfax Company Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides air and gas handling, and fabrication technology products and services. The Company’s segments include Air and Gas handling, and Fabrication Technology. The Air and Gas Handling segment supplies a range of gas handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket services.
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