Columbus McKinnon (NASDAQ:CMCO) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Columbus McKinnon (NASDAQ:CMCO) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Columbus McKinnon in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $35.00.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $17.15 on Friday. The firm has a 50 day moving average of $15.46 and a 200 day moving average of $15.29. The company has a quick ratio of 0.99, a current ratio of 1.81 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $492.72 million, a price-to-earnings ratio of 122.51 and a beta of 1.30. Columbus McKinnon has a 52 week low of $11.78 and a 52 week high of $41.05.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, February 8th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. The business had revenue of $166.55 million for the quarter. Columbus McKinnon had a return on equity of 7.33% and a net margin of 0.41%. On average, sell-side analysts predict that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Simplex Trading LLC raised its stake in shares of Columbus McKinnon by 782.2% in the second quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 1,932 shares during the last quarter. Group One Trading LLC increased its holdings in Columbus McKinnon by 266.7% in the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB raised its position in Columbus McKinnon by 66.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after buying an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,893 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Columbus McKinnon during the 2nd quarter valued at approximately $58,000. 95.96% of the stock is owned by institutional investors and hedge funds.

About Columbus McKinnon

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.