Colfax (NYSE:CFX) Stock Passes Above 50 Day Moving Average on Analyst Downgrade

Colfax Corp (NYSE:CFX) passed above its fifty day moving average during trading on Wednesday after ValuEngine upgraded the stock from a strong sell rating to a sell rating. The stock has a fifty day moving average of $26.41 and traded as high as $26.53. Colfax shares last traded at $26.11, with a volume of 22,381 shares traded.

Several other equities research analysts have also weighed in on the company. Barclays dropped their target price on Pivotal Software from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, March 15th. Goldman Sachs Group assumed coverage on Colfax in a research report on Friday, April 5th. They issued a “buy” rating and a $34.00 target price on the stock. Raymond James reaffirmed a “buy” rating and issued a $21.00 target price on shares of Colfax in a research report on Thursday, May 2nd. Oppenheimer dropped their target price on EnPro Industries from $90.00 to $85.00 in a research report on Thursday, February 14th. Finally, Longbow Research reaffirmed a “sell” rating and issued a $14.00 target price on shares of Goodyear Tire & Rubber in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Colfax currently has a consensus rating of “Buy” and a consensus target price of $29.13.

In other news, 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 value of $309,040.28. Following the completion of the transaction, the insider now owns 51,263 shares of the company’s stock, valued at $1,346,679.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher M. Hix sold 4,750 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $27.08, for a total value of $128,630.00. Following the completion of the transaction, the chief financial officer now directly owns 29,841 shares of the company’s stock, valued at approximately $808,094.28. The disclosure for this sale can be found here. Corporate insiders own 12.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new position in shares of Colfax in the fourth quarter worth $27,000. Pinnacle Bank bought a new position in shares of Colfax in the fourth quarter worth $36,000. Quadrant Capital Group LLC grew its stake in shares of Colfax by 264.3% in the first quarter. Quadrant Capital Group LLC now owns 2,211 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,604 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Colfax in the first quarter worth $128,000. Finally, LS Investment Advisors LLC bought a new position in Colfax during the first quarter valued at about $151,000. 93.16% of the stock is owned by institutional investors.

The stock’s 50 day moving average price is $26.37. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 0.85 and a beta of 1.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.06 and a current ratio of 1.53.

Colfax (NYSE:CFX) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts predict that Colfax Corp will post 2.56 earnings per share for the current year.

Colfax Company Profile (NYSE:CFX)

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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