Columbus McKinnon (NASDAQ:CMCO) Price Target Cut to $27.00 by Analysts at JPMorgan Chase & Co.

Columbus McKinnon (NASDAQ:CMCO) had its target price decreased by JPMorgan Chase & Co. from $29.00 to $27.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

A number of other equities analysts have also commented on the stock. DA Davidson set a $20.00 price target on shares of Columbus McKinnon in a research report on Thursday, February 12th. Zacks Research cut shares of Columbus McKinnon from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.50.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $19.22 on Wednesday. The firm has a market cap of $552.38 million, a P/E ratio of 91.52 and a beta of 1.33. The business’s 50 day moving average is $19.64 and its 200-day moving average is $16.74. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. Columbus McKinnon has a 1-year low of $11.78 and a 1-year high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $258.66 million for the quarter, compared to analyst estimates of $241.60 million. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 EPS. Equities research analysts predict that Columbus McKinnon will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Friday, February 13th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, February 13th. Columbus McKinnon’s payout ratio is currently 133.33%.

Insider Activity at Columbus McKinnon

In related news, insider Jon Adams sold 5,185 shares of Columbus McKinnon stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total transaction of $120,706.80. Following the sale, the insider directly owned 9,366 shares of the company’s stock, valued at approximately $218,040.48. The trade was a 35.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.26% of the company’s stock.

Institutional Trading of Columbus McKinnon

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Simplex Trading LLC lifted its stake in shares of Columbus McKinnon by 782.2% in the 2nd quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 1,932 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 565 shares in the last quarter. Group One Trading LLC raised its position in Columbus McKinnon by 266.7% in 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 boosted its stake in shares of Columbus McKinnon by 66.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Columbus McKinnon by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,893 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

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.