CIBC Reiterates Their Hold Rating on Colfax Corp (CFX)

By Austin Angelo

In a report released yesterday, Hamir Patel from CIBC reiterated a Hold rating on Colfax Corp (CFXResearch Report), with a price target of $15. The company’s shares opened today at $26.95.

According to TipRanks.com, Patel is a 4-star analyst with an average return of 5.2% and a 48.8% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.

Colfax Corp has an analyst consensus of Moderate Buy, with a price target consensus of $30.69.

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The company has a one-year high of $37.05 and a one-year low of $18.95. Currently, Colfax Corp has an average volume of 2.32M.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.

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Colfax Corp. is an industrial manufacturing and engineering company, which engages in the provision of gas and fluid handling; and fabrication technology products and services to commercial and governmental customers. The firm operates its business through the following segments Air and Gas Handling; and Fabrication Technology.