Colfax Corp (NYSE:CFX) was the target of unusually large options trading activity on Tuesday. Traders acquired 1,399 put options on the stock. This is an increase of approximately 1,899% compared to the typical daily volume of 70 put options.
Colfax stock traded down $0.18 during midday trading on Thursday, reaching $26.56. The company’s stock had a trading volume of 1,148,904 shares, compared to its average volume of 2,019,719. The firm has a market cap of $3.24 billion, a PE ratio of 11.50, a PEG ratio of 0.90 and a beta of 1.64. The company has a current ratio of 1.53, a quick ratio of 1.06 and a debt-to-equity ratio of 1.12. The firm’s 50-day moving average is $26.61. Colfax has a 52 week low of $18.95 and a 52 week high of $37.05.
Colfax (NYSE:CFX) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. Research analysts anticipate that Colfax will post 2.55 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CFX. BlackRock Inc. lifted its stake in Colfax by 91.1% in the first quarter. BlackRock Inc. now owns 8,952,563 shares of the industrial products company’s stock valued at $265,712,000 after buying an additional 4,268,182 shares during the period. Royce & Associates LP raised its position in shares of Colfax by 427.1% during the first quarter. Royce & Associates LP now owns 1,824,930 shares of the industrial products company’s stock worth $54,164,000 after purchasing an additional 1,478,724 shares during the period. Wexford Capital LP acquired a new position in shares of Colfax during the fourth quarter worth approximately $25,894,000. Rubric Capital Management LP bought a new stake in Colfax during the first quarter worth $30,060,000. Finally, Millennium Management LLC grew its holdings in Colfax by 1,239.3% during the fourth quarter. Millennium Management LLC now owns 1,036,824 shares of the industrial products company’s stock worth $21,670,000 after buying an additional 959,407 shares in the last quarter. 93.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on CFX shares. Raymond James reiterated a “buy” rating and issued a $21.00 price target on shares of Colfax in a research report on Thursday, May 2nd. Goldman Sachs Group began coverage on Colfax in a research note on Friday, April 5th. They set a “buy” rating and a $34.00 target price for the company. CIBC reissued a “hold” rating on shares of Just Energy Group in a research note on Friday, June 7th. Deutsche Bank set a $28.00 target price on Colfax and gave the stock a “hold” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley raised their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research note on Wednesday, July 10th. 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 currently has a consensus rating of “Buy” and a consensus target price of $28.81.
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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