Is Colfax (NYSE:CFX) Now a Good Investment? Cowen Upgrades Stock


Colfax (NYSE:CFX) Stock Upgrade

Cowen boosted shares of Colfax (NYSE:CFX) from a “Market Perform” rating to a “Outperform” rating in an analyst research report sent to investors and clients on Friday morning. The firm currently has a respectable $33.00 target price per share on the shares.

From a total of 10 analysts covering Colfax (NYSE:CFX) stock, 3 rate it a ”Buy”, 1 a “Sell”, and 11 a ”Hold”. This means that 20% of the ratings are positive. The highest target price is $40 while the lowest target price is $23. The mean of all analyst targets is $28.6 with a 26.52% above today’s ($23.94) stock price. Colfax was the topic of 12 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Oppenheimer initiated shares on December 4 with “Perform” rating. RBC Capital Markets maintained CFX stock in a recent report from October 15 with “Sector Perform” rating. Finally, Argus Research downgraded the stock to “Hold” rating in a report issued on a July 28.

Approximately 812,629 shares of stock traded hands. Colfax Corp (NYSE:CFX) has declined 51.19% since May 8, 2015 and is downtrending. It has underperformed by 48.17% the S&P500.

The overall sentiment of institutions has decreased to 1.45 in Q2 2015. Its down 0.32, from 1.77 in 2015Q2. The ratio worsened, as 35 institutions have sold all the shares of Colfax Corp that they owned while 52 funds have taken shares off the table. 31 funds have purchased shares for the first time while 95 added to their positions. These institutions now hold 117.75 million shares or 5.92% more than the 111.17 million shares they owned in 2015Q2.

The Fund Bdt Capital Partners Llc currently is holding shares equating to 100% of its total portfolio in Colfax Corp representing a total of 11.05 million shares. Another fund,Bares Capital Management Inc., is holding a total of 5.33 million shares equating to 15.84% of their holdings. Additionally, Akre Capital Management Llc has a 7.03 million share stake in Colfax Corp which represents 4.88% of their total portfolio. The Fund, Lincoln Capital Llc, based out of Nebraska, has also built up a stake in the stock, which represents a total of 3.56% of their total portfolio. Finally Hound Partners Llc, a fund which is based in the state of New York reported a total holdings of 4.69 million shares.

Colfax Corporation is an industrial manufacturing and engineering company. The company has a market cap of $3.01 billion. The Firm provides gas and fluid-handling, and fabrication technology services and products to commercial and Governmental clients around the world under the Howden, ESAB and Colfax Fluid Handling brand names. It has 14.69 P/E ratio. The Company’s divisions include gas and fluid handling, and fabrication technology.

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.” Get a free copy of the Zacks research report on Colfax Corp (CFX).