StockNews.com Initiates Coverage on Colfax (NYSE:CFX)

StockNews.com assumed coverage on shares of Colfax (NYSE:CFXGet Rating) in a research report issued on Friday. The firm set a “hold” rating on the industrial products company’s stock.

CFX has been the subject of a number of other research reports. Loop Capital began coverage on shares of Colfax in a report on Wednesday, January 5th. They set a “hold” rating and a $135.00 target price for the company. Robert W. Baird lowered their target price on shares of Colfax from $198.00 to $141.00 in a report on Wednesday, February 23rd. Seaport Res Ptn lowered shares of Colfax from a “buy” rating to a “neutral” rating in a report on Tuesday, February 8th. TheStreet lowered shares of Colfax from a “b” rating to a “c+” rating in a report on Thursday, March 3rd. Finally, Stifel Nicolaus reduced their price target on shares of Colfax from $174.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $147.00.

The company has a current ratio of 2.25, a quick ratio of 1.49 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 84.91, a P/E/G ratio of 0.77 and a beta of 2.12. The firm has a fifty day moving average of $115.88 and a 200 day moving average of $132.09. Colfax has a fifty-two week low of $35.66 and a fifty-two week high of $54.67.

Colfax (NYSE:CFXGet Rating) last released its earnings results on Tuesday, February 22nd. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.06. Colfax had a net margin of 1.86% and a return on equity of 7.41%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business earned $1.53 EPS. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. Equities analysts anticipate that Colfax will post 2.39 earnings per share for the current fiscal year.

In other Colfax news, CEO Brady Shirley sold 3,624 shares of the business’s stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $38.88, for a total transaction of $140,901.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Matthew L. Trerotola sold 99,068 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $40.57, for a total transaction of $4,019,188.76. The disclosure for this sale can be found here. Insiders sold a total of 200,919 shares of company stock worth $8,192,906 over the last ninety days. 8.20% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of CFX. Starboard Value LP acquired a new position in shares of Colfax during the 4th quarter worth about $180,162,000. Morgan Stanley increased its stake in shares of Colfax by 102.3% during the 3rd quarter. Morgan Stanley now owns 5,619,657 shares of the industrial products company’s stock worth $257,943,000 after purchasing an additional 2,841,927 shares during the last quarter. LTS One Management LP acquired a new position in shares of Colfax during the 4th quarter worth about $81,597,000. Bank of New York Mellon Corp increased its stake in shares of Colfax by 36.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,273,140 shares of the industrial products company’s stock worth $150,237,000 after purchasing an additional 881,891 shares during the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of Colfax by 102.8% during the 4th quarter. TD Asset Management Inc. now owns 1,504,020 shares of the industrial products company’s stock worth $69,140,000 after purchasing an additional 762,210 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Colfax Company Profile (Get Rating)

Colfax Corp. operates as a diversified technology company. The firm provides orthopedic care and fabrication technology products and services to customers. It operates through the following segments: Medical Technology and Fabrication Technology. The Medical Technology segment develops, manufactures and distributes medical devices used for rehabilitation, pain management and physical therapy.

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