Colfax Corp (NYSE:CFX) Sees Large Growth in Short Interest

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.

In other Colfax news, CFO Christopher M. Hix sold 4,750 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $808,094.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shyam Kambeyanda sold 11,764 shares of the firm’s stock in a transaction that occurred 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 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 owned by company insiders.

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.

Featured Story: What is a good rate of return for a mutual fund?

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.