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

Columbus McKinnon (NASDAQ:CMCO) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

Several other equities research analysts also recently weighed in on the stock. CJS Securities raised shares of Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. dropped their price target on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. DA Davidson set a $20.00 price target on shares of Columbus McKinnon in a report on Thursday, February 12th. Finally, Zacks Research lowered shares of Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.50.

Columbus McKinnon Price Performance

Shares of Columbus McKinnon stock opened at $13.89 on Friday. The stock has a market cap of $399.20 million, a price-to-earnings ratio of 66.14 and a beta of 1.32. 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 has a 50 day moving average price of $19.28 and a 200-day moving average price of $17.13. Columbus McKinnon has a one year low of $11.78 and a one year high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The company 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%.Columbus McKinnon’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. Equities analysts expect that Columbus McKinnon will post 2.69 EPS for the current year.

Insider Buying and Selling at Columbus McKinnon

In other news, insider Jon Adams sold 5,185 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.26% of the company’s stock.

Institutional Investors Weigh In On Columbus McKinnon

Several large investors have recently added to or reduced their stakes in CMCO. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 valued at $30,000 after purchasing an additional 565 shares during the period. Group One Trading LLC increased its holdings in Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB raised its position 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 valued at $36,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC lifted 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 buying an additional 1,893 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Columbus McKinnon by 41.4% in the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after buying an additional 918 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.