Columbus McKinnon’s (CMCO) “Neutral” Rating Reaffirmed at DA Davidson

DA Davidson reiterated their neutral rating on shares of Columbus McKinnon (NASDAQ:CMCOFree Report) in a report released on Tuesday morning,Benzinga reports. They currently have a $15.00 target price on the industrial products company’s stock.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. CJS Securities raised Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.00.

Check Out Our Latest Research Report on CMCO

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $22.93 on Tuesday. Columbus McKinnon has a 52 week low of $11.78 and a 52 week high of $26.23. The company has a market capitalization of $658.78 million, a price-to-earnings ratio of 109.19 and a beta of 1.33. The company has a 50-day simple moving average of $19.22 and a 200 day simple moving average of $16.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.81.

Columbus McKinnon (NASDAQ:CMCOGet Free Report) last issued its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.46%. The firm had revenue of $258.66 million during the quarter, compared to the consensus estimate of $241.60 million. During the same period last year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts predict that Columbus McKinnon will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, February 13th. Columbus McKinnon’s dividend payout ratio is currently 200.00%.

Institutional Investors Weigh In On Columbus McKinnon

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC acquired a new position in shares of Columbus McKinnon during the third quarter worth $735,000. Assenagon Asset Management S.A. acquired a new stake in shares of Columbus McKinnon during the 3rd quarter valued at $8,040,000. Savant Capital LLC bought a new stake in Columbus McKinnon during the 2nd quarter worth $320,000. Janney Montgomery Scott LLC bought a new stake in Columbus McKinnon during the 2nd quarter worth $869,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Columbus McKinnon in the 2nd quarter worth about $1,480,000. 95.96% of the stock is owned by institutional investors.

Key Stories Impacting Columbus McKinnon

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Columbus McKinnon Company Profile

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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.

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