Analysts Set Columbus McKinnon Corporation (NASDAQ:CMCO) PT at $23.50

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have been assigned an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $23.50.

A number of equities research analysts have recently commented on CMCO shares. Zacks Research downgraded Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. lowered their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Wall Street Zen raised shares of Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a research note on Saturday. CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. Finally, DA Davidson set a $20.00 target price on shares of Columbus McKinnon in a research report on Thursday, February 12th.

Columbus McKinnon Price Performance

CMCO stock opened at $14.41 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. The stock’s 50 day moving average price is $19.59 and its 200 day moving average price is $17.17. The firm has a market cap of $414.14 million, a P/E ratio of 68.62 and a beta of 1.32. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The business had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same period in the prior year, the business earned $0.56 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Friday, February 13th were issued a $0.07 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.28 annualized dividend and a yield of 1.9%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 133.33%.

Insiders Place Their Bets

In other Columbus McKinnon 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 transaction, the insider directly owned 9,366 shares of the company’s stock, valued at $218,040.48. The trade was a 35.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.26% of the stock is currently owned by company insiders.

Institutional Trading of Columbus McKinnon

Hedge funds have recently made changes to their positions in the company. Simplex Trading LLC boosted its stake in Columbus McKinnon by 782.2% during 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 grew its stake in Columbus McKinnon by 48.0% in the fourth 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 increased its holdings 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 buying an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings 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. Finally, Tower Research Capital LLC TRC grew its position 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 in the last quarter. Hedge funds and other 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.