Columbus McKinnon (NASDAQ:CMCO) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday, November 21st, BidAskClub reports.
CMCO has been the topic of several other reports. Dougherty & Co reiterated a “buy” rating on shares of Columbus McKinnon in a report on Friday, November 8th. Sidoti reduced their target price on Columbus McKinnon from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Zacks Investment Research lowered Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.80.
CMCO stock opened at $41.08 on Thursday. Columbus McKinnon has a 52 week low of $27.66 and a 52 week high of $43.09. The company has a quick ratio of 1.05, a current ratio of 1.73 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $38.44 and a 200 day simple moving average of $37.44. The company has a market cap of $980.35 million, a PE ratio of 14.53 and a beta of 1.72.
Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. The firm had revenue of $207.60 million for the quarter, compared to analysts’ expectations of $206.68 million. Columbus McKinnon had a return on equity of 15.40% and a net margin of 6.34%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, analysts anticipate that Columbus McKinnon will post 2.86 EPS for the current fiscal year.
In other news, VP Kurt F. Wozniak sold 6,989 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $39.64, for a total transaction of $277,043.96. Following the completion of the transaction, the vice president now owns 37,896 shares in the company, valued at approximately $1,502,197.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alan S. Korman sold 5,857 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $38.97, for a total value of $228,247.29. The disclosure for this sale can be found here. 2.39% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CMCO. FMR LLC raised its holdings in shares of Columbus McKinnon by 35.8% during the 1st quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock valued at $21,853,000 after buying an additional 167,700 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Columbus McKinnon during the 2nd quarter valued at about $6,465,000. Wells Fargo & Company MN grew its position in Columbus McKinnon by 105.7% during the 2nd quarter. Wells Fargo & Company MN now owns 239,710 shares of the industrial products company’s stock worth $10,060,000 after acquiring an additional 123,155 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Columbus McKinnon during the 2nd quarter worth approximately $5,110,000. Finally, Morgan Stanley grew its position in Columbus McKinnon by 244.7% during the 2nd quarter. Morgan Stanley now owns 164,523 shares of the industrial products company’s stock worth $6,905,000 after acquiring an additional 116,788 shares during the last quarter. 99.84% of the stock is currently owned by institutional investors.
About Columbus McKinnon
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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