Deutsche Bank Analysts Give Colfax (NYSE:CFX) a $28.00 Price Target

Deutsche Bank set a $28.00 target price on Colfax (NYSE:CFX) in a research report sent to investors on Wednesday morning, TipRanks reports. The firm currently has a hold rating on the industrial products company’s stock.

A number of other analysts have also weighed in on the stock. Longbow Research restated a sell rating and issued a $14.00 target price on shares of Goodyear Tire & Rubber in a research report on Thursday, March 21st. Raymond James restated a buy rating and issued a $21.00 target price on shares of Colfax in a research report on Thursday, May 2nd. CIBC restated a hold rating on shares of Just Energy Group in a research report on Friday, June 7th. Morgan Stanley lifted their price target on shares of Williams-Sonoma from $52.00 to $56.00 and gave the stock an underweight rating in a report on Wednesday. Finally, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Colfax currently has a consensus rating of Buy and a consensus price target of $29.13.

Colfax stock traded up $0.16 during mid-day trading on Wednesday, reaching $26.34. The company had a trading volume of 991,490 shares, compared to its average volume of 2,053,402. Colfax has a fifty-two week low of $18.95 and a fifty-two week high of $37.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.06 and a current ratio of 1.53. The firm has a market cap of $3.18 billion, a P/E ratio of 11.40, a P/E/G ratio of 0.85 and a beta of 1.64. The company has a fifty day moving average of $26.38.

Colfax (NYSE:CFX) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Colfax had a net margin of 1.68% and a return on equity of 8.16%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates 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. Sell-side analysts predict that Colfax will post 2.58 earnings per share for the current fiscal year.

In related news, CFO Christopher M. Hix sold 4,750 shares of Colfax stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total transaction of $128,630.00. Following the completion of the transaction, the chief financial officer now owns 29,841 shares of the company’s stock, valued at $808,094.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Kambeyanda sold 11,764 shares of Colfax 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 transaction, the insider now directly owns 51,263 shares of the company’s stock, valued at approximately $1,346,679.01. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System increased its stake in Colfax by 10.9% in the fourth quarter. California Public Employees Retirement System now owns 253,639 shares of the industrial products company’s stock valued at $5,301,000 after purchasing an additional 24,981 shares during the last quarter. BlackRock Inc. boosted its holdings in Colfax by 2.8% in the fourth quarter. BlackRock Inc. now owns 4,684,381 shares of the industrial products company’s stock valued at $97,904,000 after purchasing an additional 126,653 shares during the last quarter. Raymond James & Associates boosted its holdings in Colfax by 274.5% in the fourth quarter. Raymond James & Associates now owns 113,751 shares of the industrial products company’s stock valued at $2,377,000 after purchasing an additional 83,376 shares during the last quarter. Citigroup Inc. boosted its holdings in Colfax by 457.7% in the fourth quarter. Citigroup Inc. now owns 8,065 shares of the industrial products company’s stock valued at $168,000 after purchasing an additional 6,619 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in Colfax by 23.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 11,293 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 2,136 shares during the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Google Finance Portfolio Tips and Tricks

Analyst Recommendations for Colfax (NYSE:CFX)

Receive News & Ratings for Colfax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colfax and related companies with MarketBeat.com's FREE daily email newsletter.