Columbus McKinnon (NASDAQ:CMCO) Share Price Crosses Above 200-Day Moving Average on Analyst Downgrade

Columbus McKinnon Corporation (NASDAQ:CMCO) shares passed above its 200-day moving average during trading on Friday after CJS Securities upgraded the stock to a strong-buy rating. The stock has a 200-day moving average of $16.04 and traded as high as $21.27. Columbus McKinnon shares last traded at $20.96, with a volume of 310,586 shares changing hands.

CMCO has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Columbus McKinnon in a report on Wednesday, October 8th. Wall Street Zen upgraded Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Institutional Trading of Columbus McKinnon

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

Columbus McKinnon Stock Down 1.4%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.81. The firm has a 50 day simple moving average of $17.79 and a two-hundred day simple moving average of $16.04. The stock has a market cap of $602.18 million, a P/E ratio of 149.72 and a beta of 1.29.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. Columbus McKinnon had a return on equity of 7.33% and a net margin of 0.41%.The company had revenue of $261.05 million for the quarter, compared to analyst estimates of $240.63 million. During the same period last year, the company earned $0.70 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts predict that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.