Columbus McKinnon (NASDAQ:CMCO) Raised to Buy at Wall Street Zen

Columbus McKinnon (NASDAQ:CMCO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Columbus McKinnon in a report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $35.00.

Columbus McKinnon Price Performance

NASDAQ CMCO opened at $15.04 on Friday. Columbus McKinnon has a twelve month low of $11.78 and a twelve month high of $41.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.01 and a current ratio of 1.85. The stock has a market capitalization of $432.10 million, a PE ratio of -27.85 and a beta of 1.26. The stock has a 50-day simple moving average of $14.74 and a 200 day simple moving average of $15.31.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%.The firm had revenue of $235.92 million for the quarter, compared to analyst estimates of $230.88 million. Research analysts anticipate that Columbus McKinnon will post 2.69 EPS for the current year.

Institutional Trading of Columbus McKinnon

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Columbus McKinnon by 177.5% in the 1st quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company’s stock valued at $21,388,000 after acquiring an additional 808,110 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Columbus McKinnon by 37.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company’s stock valued at $16,513,000 after acquiring an additional 266,020 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Columbus McKinnon by 3.6% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 814,202 shares of the industrial products company’s stock valued at $12,433,000 after acquiring an additional 28,049 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Columbus McKinnon by 24.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 780,806 shares of the industrial products company’s stock worth $13,219,000 after purchasing an additional 154,163 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Columbus McKinnon by 0.4% during the second quarter. Geode Capital Management LLC now owns 697,270 shares of the industrial products company’s stock worth $10,649,000 after purchasing an additional 2,581 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.