Market Globalist

Insider Selling Report: Colfax Corporation [CFX]’s Pres, CEO, Trerotola Matthew L., Sells 22,039 Shares

On Jan. 05, Trerotola Matthew L. divested U.S. $840,181 in shares of Colfax Corporation. The Pres, CEO sold 22,039 shares at a price per share of $38.12. The transaction decreased this specific insider’s holdings to 200,967 shares worth around $8.16 million at present.

UBS took its Colfax Corporation [CFX] rating to the equivalent of a Buy from a Neutral, and the price target to $40 from $36, in a research note dated November 09, 2020. That figure represents around a -1.48% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with UBS’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in early November. Meanwhile, UBS had launched its coverage on CFX with “Neutral”, in a research note produced for clients September 16, 2020. In addition, there was a new coverage from JP Morgan on May 29, 2020. The research firm rated CFX “an Overweight”.

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Is Colfax Corporation [NYSE:CFX] a Good Buy Right Now?

It should be noted that CFX technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from Colfax Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.85 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.0 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.93 million shares.

CFX Price Performance

On Wall Street, Colfax Corporation [NYSE:CFX] finished Thursday’s session up 1.00% at $40.59. The stock went up to $41.03 at the same session while its lowest single day price was $40.14. In the last five days, it saw a rise of about 6.96%, Colfax Corporation shares gained by almost 6.15% since the beginning of the year. However, the share price has dropped to as low as -0.39% below its one year high. On 01/07/21, the company shares recorded $41.03, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $36.59. The company’s shares have inclined by 8.18% in the past year. The 50-day SMA achieved is $35.17 while the 200-day SMA is $30.43. Volume gained to 2.72 million from 1.27 million in the previous session.

CFX Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 40.14 level, and in case of violation of this particular level, it will cause more drop to 39.70 level. On the upper level, 41.48 is still the key resistance. The stock may increase to the subsequent resistance at 41.03. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.68, implying a neutral technical stance while the MACD stands at 2.09, meaning price will increase in the next trading period. Percent R indicator moved to 7.22%, implying bullish price movement. Stochastic %K at 89.20% suggest selling the stock.

What is the short interest in Colfax Corporation?

Short interest in the Colfax Corporation stock has surged, increasing by 1.14 million shares to total 16.33 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 17.47 million, data from Yahoo Finance shows. The decrease of -6.98% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 17.63% of the overall float for the stock.

Colfax Corporation’s Biggest Shareholders: Who Owns Colfax Corporation [CFX]?

Filings by T. Rowe Price Associates, Inc. showed that the firm now holds a total of 16,599,893 shares or roughly 14.01% of the outstanding CFX shares. This means their shares have increased by 74,942 from the 16,599,893 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $317,878,077. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 9.90% stake valued at $268,205,695 while Dimensional Fund Advisors LP added theirs at $232,927,429. During the last quarter, BlackRock Fund Advisors raised 669,602 of its shares in Colfax Corporation while Dimensional Fund Advisors LP bought 13,005 shares. The Cooke & Bieler LP’s holdings currently number 6,183,040 shares at $250969593.6. According to the firm’s last 13F report, Principal Global Investors LLC shares in the company at filing stood at 5,507,653 shares, roughly $198,716,120.

CFX Earnings Forecast For The Current Quarter

Colfax Corporation [CFX] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $830.42M and an earnings per share of $0.5 for Dec 2020. Looking further ahead, the company is expected to report revenue of $814.1M at an EPS of $0.44 for Mar 2021. The estimates represent downside of 10.00% and 46.14% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

CFX Earnings Estimates For The Current Year

For the financial year, Colfax Corporation [NYSE:CFX] is expected to bring in revenue of $3.07B. The returns are nearly $-260.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.38, lower than that of FY19 by -$0.63. Estimates put this year’s earnings growth at -31.30%, 47.10% for the next, and at an annual 3.46% over the next 5-year period. As for sales, forecasts are for a decrease of -7.70% in the current fiscal year and a further 10.00% over the following year.

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What are analyst thoughts on Colfax Corporation?

Looking forward to the Colfax Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Colfax Corporation stock at $42.00 within the next 12 months, which represents almost 3.36 per cent growth from its previous closing price of $40.59. The highest analysts’ target for Colfax Corporation stock projections is $52.00 and the lowest one is $35.00. Still, 18 analysts sharing their consensus rating for CFX stock in 2021 agree that it is an Overweight.

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