Colfax Corp (NYSE:CFX) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 14,529,300 shares, an increase of 10.1% from the April 30th total of 13,199,300 shares. Based on an average daily trading volume, of 2,270,000 shares, the short-interest ratio is presently 6.4 days. Currently, 17.3% of the company’s shares are sold short.
CFX traded up $0.80 during mid-day trading on Friday, reaching $27.14. 1,221,204 shares of the stock were exchanged, compared to its average volume of 1,108,894. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.53 and a quick ratio of 1.06. The stock has a market capitalization of $3.19 billion, a PE ratio of 11.75, a PEG ratio of 0.89 and a beta of 1.64. The business has a 50 day moving average of $26.41. Colfax has a 1 year low of $18.95 and a 1 year high of $37.05.
Colfax (NYSE:CFX) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.04 billion. Colfax had a net margin of 1.68% and a return on equity of 8.16%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS. On average, equities research analysts expect that Colfax will post 2.55 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new position in shares of Colfax in the 4th quarter worth about $27,000. Pinnacle Bank purchased a new position in shares of Colfax in the 4th quarter worth about $36,000. Quadrant Capital Group LLC boosted its holdings in shares of Colfax by 264.3% in the 1st quarter. Quadrant Capital Group LLC now owns 2,211 shares of the industrial products company’s stock worth $63,000 after buying an additional 1,604 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Colfax in the 2nd quarter worth about $83,000. Finally, SG Americas Securities LLC purchased a new position in shares of Colfax in the 4th quarter worth about $112,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Raymond James reiterated a “buy” rating and issued a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. Goldman Sachs Group assumed coverage on shares of Colfax in a research note on Friday, April 5th. They issued a “buy” rating and a $34.00 price objective for the company. CIBC reiterated a “hold” rating on shares of Just Energy Group in a research note on Friday, June 7th. Longbow Research reiterated a “sell” rating and issued a $14.00 price objective on shares of Goodyear Tire & Rubber in a research note on Thursday, March 21st. Finally, Morgan Stanley lifted their price objective on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an “underweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $28.81.
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.
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