The stock of Colfax Corp (NYSE:CFX) hit a new 52-week high and has $50.00 target or 45.00% above today’s $34.48 share price. The 7 months bullish chart indicates low risk for the $4.31 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $50.00 price target is reached, the company will be worth $1.94B 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 399,448 shares traded hands. Colfax Corp (NYSE:CFX) has risen 23.06% since April 7, 2016 and is uptrending. It has outperformed by 18.28% the S&P500.
Colfax Corp (NYSE:CFX) Ratings Coverage
Out of 13 analysts covering Colfax (NYSE:CFX), 5 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 38% are positive. $52 is the highest target while $21 is the lowest. The $29.45 average target is -14.59% below today’s ($34.48) stock price. Colfax has been the topic of 24 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The company was initiated on Thursday, January 21 by Citigroup. The stock of Colfax Corp (NYSE:CFX) has “Hold” rating given on Tuesday, March 29 by Gabelli. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, October 15 report. Cowen & Co upgraded the stock to “Outperform” rating in Friday, December 11 report. The firm has “Equalweight” rating given on Wednesday, May 25 by Barclays Capital. The stock of Colfax Corp (NYSE:CFX) earned “Sell” rating by on Monday, October 10. BB&T Capital upgraded the stock to “Buy” rating in Tuesday, May 17 report. Barclays Capital maintained the shares of CFX in a report on Monday, July 18 with “Equalweight” rating. Citigroup maintained the shares of CFX in a report on Friday, July 29 with “Sell” rating. The stock of Colfax Corp (NYSE:CFX) earned “Underweight” rating by Barclays Capital on Monday, October 5.
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 increased to 1.35 in Q2 2016. Its up 0.48, from 0.87 in 2016Q1. The ratio increased, 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.
Alliancebernstein L P holds 65,900 shares or 0% of its portfolio. Blackrock Japan Limited has 1,605 shares for 0% of their US portfolio. The California-based Los Angeles Cap Mgmt Equity Research has invested 0% in Colfax Corp (NYSE:CFX). California Pub Employees Retirement Sys last reported 0.01% of its portfolio in the stock. The Texas-based Next Fincl Group Inc has invested 0% in Colfax Corp (NYSE:CFX). Qs Invsts Limited Liability last reported 12 shares in the company. Panagora Asset Management last reported 0% of its portfolio in the stock. National Bank Of America De has 0% invested in the company for 575,432 shares. Blackrock Fund Advsr has invested 0.01% of its portfolio in Colfax Corp (NYSE:CFX). Citadel Advsrs Limited has 0.02% invested in the company for 623,294 shares. Lincoln Limited Liability accumulated 3.08% or 155,504 shares. Exane Derivatives accumulated 0% or 582 shares. Visium Asset Mngmt L P accumulated 0.02% or 12,505 shares. Van Den Berg Mngmt I Incorporated reported 1.10 million shares or 3.75% of all its holdings. Gotham Asset Management Limited Co accumulated 0.04% or 127,555 shares.
More notable recent Colfax Corp (NYSE:CFX) news were published by: Nasdaq.com which released: “Colfax Corp Reaches Analyst Target Price” on October 03, 2016, also Fool.com with their article: “Shares of Colfax Corporation Plunge 10% Despite Topping Estimates” published on May 03, 2016, Realmoney.Thestreet.com published: “Colfax Corp.’s New CFO Has a Winning Record” on June 03, 2016. More interesting news about Colfax Corp (NYSE:CFX) were released by: Blogs.Wsj.com and their article: “CFO Moves: Colfax Corp., Nektar Therapeutics, Western Refining Logistics” published on June 02, 2016 as well as Seekingalpha.com‘s news article titled: “Colfax Corp. – Restructuring Efforts To Counter Downturn In Top Line Performance” with publication date: December 14, 2015.
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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