Columbus McKinnon (NASDAQ:CMCO) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of Columbus McKinnon (NASDAQ:CMCO) from a strong-buy rating to a buy rating in a report published on Friday morning.

Other equities research analysts have also issued reports about the company. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. DA Davidson set a $15.00 price objective on Columbus McKinnon in a research note on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $20.96 on Friday. The stock has a market capitalization of $602.18 million, a P/E ratio of 149.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.81 and a quick ratio of 0.99. The company’s 50-day moving average is $17.79 and its 200 day moving average is $16.04. Columbus McKinnon has a 1 year low of $11.78 and a 1 year high of $37.76.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $261.05 million for the quarter, compared to the consensus estimate of $240.63 million. Columbus McKinnon had a return on equity of 7.33% and a net margin of 0.41%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. On average, sell-side analysts expect that Columbus McKinnon will post 2.69 earnings per share for the current year.

Institutional Trading of Columbus McKinnon

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in Columbus McKinnon by 18.1% during the 4th quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock valued at $61,000 after buying an additional 545 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Columbus McKinnon by 34.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,610 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 1,181 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Columbus McKinnon in the 4th quarter valued at $306,000. Pallas Capital Advisors LLC bought a new stake in Columbus McKinnon in the 4th quarter valued at $197,000. Finally, SG Americas Securities LLC lifted its stake in Columbus McKinnon by 13.7% in the 4th quarter. SG Americas Securities LLC now owns 39,255 shares of the industrial products company’s stock worth $677,000 after purchasing an additional 4,724 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

About Columbus McKinnon

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.