Colfax Corp (CFX) was Upgraded by Barclays to ” Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $24 . Earlier the firm had a rating of “Underweight ” on the company shares. Barclays advised their investors in a research report released on May 25, 2016.
Many Wall Street Analysts have commented on Colfax Corp. BB&T Capital Mkts Upgraded Colfax Corp on May 17, 2016 to ” Buy”, Price Target of the shares are set at $34.Shares were Reiterated by Stifel on May 4, 2016 to “Buy” and Lowered the Price Target to $ 33 from a previous price target of $36 .Gabelli & Co Initiated Colfax Corp on Mar 29, 2016 to “Hold”, Price Target of the shares are set at $37.
On the company’s financial health, Colfax Corp reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.27. The company had revenue of $876.80 million for the quarter, compared to analysts expectations of $832.70 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.
Colfax Corp opened for trading at $25.05 and hit $25.62 on the upside on Friday, eventually ending the session at $25.61, with a gain of 2.60% or 0.65 points. The heightened volatility saw the trading volume jump to 7,82,340 shares. Company has a market cap of $3,141 M.
In a different news, on Mar 16, 2016, Rajiv Vinnakota (director) sold 2,038 shares at $27.31 per share price. According to the SEC, on Mar 1, 2016, Stephen Wittig (SVP – CBS & Supply Chain) sold 746 shares at $25.35 per share price. On Feb 22, 2016, Lynn H Clark (SVP – Global Human Resources) sold 193 shares at $25.09 per share price, according to the Form-4 filing with the securities and exchange commission.
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and Governmental customers around the world under the Howden ESAB and Colfax Fluid Handling brand names. The Company’s segments include gas and fluid handling and fabrication technology. The gas and fluid handling segment supplies a range of products including heavy-duty centrifugal and axial fans rotary heat exchangers gas compressors pumps fluid-handling systems and controls and specialty valves which serves customers in the power generation oil gas and petrochemical mining marine (including defense) and general industrial and other end markets. Fabrication technology segment formulates develops manufactures and supplies consumable products and equipment for the cutting and joining of steels aluminum and other metals and metal alloys.