Colfax Co. (NYSE:CFX) benefited from a sharp decline in short interest in January. As of January 15, there was short interest totaling 6,190,000 shares, down 30.2% from the total of 8,870,000 shares as of December 31. Based on an average daily volume of 1,120,000 shares, the day-to-cover ratio is currently 5.5 days.
In a similar vein, Executive Vice President Shyam Kambeyanda sold 2,366 shares of Colfax in a trade dated Tuesday, December 14. The stock was sold at an average price of $44.33, for a total transaction of $104,884.78. The transaction was disclosed in a document filed with the SEC, which is available via this hyperlink. Additionally, CFO Christopher M. Hix sold 4,345 shares of Colfax in a trade dated Tuesday, Dec. 14. The stock was sold at an average price of $44.33, for a total value of $192,613.85. The disclosure of this sale can be found here. In the past three months, insiders have sold 70,896 shares of the company valued at $3,708,465. Company insiders hold 9.60% of the company’s stock.
A number of institutional investors and hedge funds have recently changed their holdings in the company. First Horizon Advisors Inc. increased its position in Colfax shares by 385.5% during the third quarter. First Horizon Advisors Inc. now owns 335 shares of the industrial products company valued at $32,000 after acquiring 266 additional shares last quarter. Lindbrook Capital LLC increased its position in Colfax by 57.6% in the fourth quarter. Lindbrook Capital LLC now owns 843 shares of the industrial products company worth $39,000 after purchasing an additional 308 shares during the period. Itau Unibanco Holding SA bought a new position in shares of Colfax during the 2nd quarter for a value of $45,000. Farmers & Merchants Investments Inc. increased its stake in Colfax shares by 358.2% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,095 shares of the industrial products company worth $50,000 after acquiring 856 additional shares in the last quarter. Finally, US Bancorp DE increased its stake in Colfax shares by 9.2% in the 3rd quarter. US Bancorp DE now owns 2,734 shares of the industrial products company worth $125,000 after acquiring 231 more shares in the last quarter. Institutional investors and hedge funds own 95.48% of the company’s shares.
A number of analysts have recently released reports on the company. Barclays lowered its price target on Colfax from $44.00 to $43.00 and set an “underweight” rating on the stock in a Monday, October 4 research report. Morgan Stanley cut its price target on Colfax from $51.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft cut its price target on Colfax from $55.00 to $54.00 and placed a “hold” rating on the stock in a Friday, Dec. 10 research note. Loop Capital began covering Colfax in a report on Wednesday, Jan. 5. They issued a “hold” rating and a price target of $45.00 for the company. Finally, KeyCorp raised its price target on Colfax from $57.00 to $60.00 and gave the company an “overweight” rating in a Friday, Nov. 5, report. One research analyst rated the stock with a sell rating, four issued a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $49.38.
Shares of Colfax were up $0.63 during Monday’s trading, hitting $41.12. The stock recorded a trading volume of 1,517,431 shares, compared to an average volume of 1,254,573 shares. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 57.92, a growth price-to-earnings ratio of 0.82 and a beta of 2.15. Colfax has a 12-month low of $36.72 and a 12-month high of $54.67. The company’s 50-day moving average price is $45.31. The company has a debt ratio of 0.35, a quick ratio of 0.97 and a current ratio of 1.77.
Colfax (NYSE:CFX) last released its quarterly results on Thursday, November 4. The industrial products company reported earnings per share (EPS) of $0.54 for the quarter, matching the consensus estimate of $0.54. The company posted revenue of $965.89 million in the quarter, compared to analyst estimates of $958.44 million. Colfax had a net margin of 2.92% and a return on equity of 7.28%. The company’s revenue increased 19.8% year over year. In the same period a year earlier, the company posted earnings per share of $0.41. On average, sell-side analysts expect Colfax to post earnings per share of 2.12 for the current fiscal year.
Colfax Corp. operates as a diversified technology company. The company provides its customers with products and services in orthopedic care and manufacturing technology. It operates through the following segments: Medical Technology and Manufacturing Technology. The Medical Technologies segment develops, manufactures and distributes medical devices used for rehabilitation, pain management and physical therapy.
Feature story: What is the current ratio?
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Colfax right now?
Before you consider Colfax, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Colfax wasn’t on the list.
Although Colfax currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here