The stock of Colfax Corp (NYSE:CFX) hit a new 52-week high and has $41.50 target or 9.00% above today’s $38.07 share price. The 6 months bullish chart indicates low risk for the $4.88 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $41.50 price target is reached, the company will be worth $439.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 208,339 shares traded hands. Colfax Corp (NYSE:CFX) has risen 16.30% since April 28, 2016 and is uptrending. It has outperformed by 10.37% the S&P500.
Analysts await Colfax Corp (NYSE:CFX) to report earnings on February, 2. They expect $0.45 earnings per share, down 11.76% or $0.06 from last year’s $0.51 per share. CFX’s profit will be $57.68 million for 21.15 P/E if the $0.45 EPS becomes a reality. After $0.39 actual earnings per share reported by Colfax Corp for the previous quarter, Wall Street now forecasts 15.38% EPS growth.
Colfax Corp (NYSE:CFX) Ratings Coverage
Out of 13 analysts covering Colfax (NYSE:CFX), 6 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 46% are positive. Colfax has been the topic of 25 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, July 29 by Citigroup. The firm has “Outperform” rating given on Friday, December 11 by Cowen & Co. The company was maintained on Monday, July 18 by Barclays Capital. The stock has “Buy” rating given by BB&T Capital on Tuesday, May 17. The stock has “Buy” rating given by Argus Research on Monday, November 14. Barclays Capital downgraded it to “Underweight” rating and $23 target price in Monday, October 5 report. The firm earned “Hold” rating on Tuesday, July 28 by Argus Research. The stock of Colfax Corp (NYSE:CFX) earned “Sell” rating by on Monday, October 10. Stifel Nicolaus maintained Colfax Corp (NYSE:CFX) on Friday, October 28 with “Buy” rating. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, October 15 report.
According to Zacks Investment Research, “Colfax Corporation is a global supplier of fluid handling products, including pumps, fluid handling systems and specialty valves. Its products serve a variety of applications in the commercial marine, oil and gas, power generation, global navy and general industrial markets and are sold worldwide primarily under the Allweiler, Fairmount, Houttuin, Imo, LSC, Portland Valve, Tushaco, Warren and Zenith brands.”
Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.53, from 1.35 in 2016Q1. The ratio is negative, as 23 funds sold all Colfax Corp shares owned while 55 reduced positions. 30 funds bought stakes while 75 increased positions. They now own 94.63 million shares or 3.42% less from 97.97 million shares in 2016Q1.
Seabridge Invest Lc holds 0.13% of its portfolio in Colfax Corp (NYSE:CFX) for 19,774 shares. Moreover, Price T Rowe Assoc Incorporated Md has 0.04% invested in Colfax Corp (NYSE:CFX) for 6.57 million shares. Tiaa Cref Inv Mngmt Ltd Company holds 0.01% of its portfolio in Colfax Corp (NYSE:CFX) for 644,354 shares. Diamond Hill Management Inc accumulated 0.82% or 4.89 million shares. Financial Bank Of Montreal Can holds 0.01% or 214,773 shares in its portfolio. Ibm Retirement Fund owns 9,926 shares or 0.01% of their US portfolio. Ameriprise Financial Inc last reported 0% of its portfolio in the stock. Public Employees Retirement Association Of Colorado accumulated 22,217 shares or 0% of the stock. Blackrock Institutional Tru Comm Na last reported 0.01% of its portfolio in the stock. Fmr Ltd Liability Com last reported 1.73M shares in the company. State Of Wisconsin Inv Board holds 0.01% or 64,000 shares in its portfolio. Moreover, Tower Bridge Advsr has 0% invested in Colfax Corp (NYSE:CFX) for 10,350 shares. Goldman Sachs Gp has 0% invested in the company for 166,795 shares. Da Davidson & owns 161 shares or 0% of their US portfolio. California State Teachers Retirement Systems has 213,869 shares for 0.01% of their US portfolio.
More news for Colfax Corp (NYSE:CFX) were recently published by: Realmoney.Thestreet.com, which released: “Colfax Corp.’s New CFO Has a Winning Record” on June 03, 2016. Blogs.Wsj.com‘s article titled: “CFO Moves: Colfax Corp., Nektar Therapeutics, Western Refining Logistics” and published on June 02, 2016 is yet another important article.
CFX Company Profile
Colfax Corporation, incorporated on February 25, 1998, is an industrial manufacturing and engineering company. The Firm provides gas and fluid-handling and fabrication technology services and products to commercial and governmental clients around the world. The Company’s divisions 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 clients in the power generation, oil, gas and petrochemical, mining, marine (including defense), and general industrial and other end markets. The Fabrication technology segment is a supplier of welding equipment and consumables, cutting equipment and consumables, and automated welding and cutting systems.
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