Columbus McKinnon Corporation (NASDAQ:CMCO) Receives $22.00 Consensus Target Price from Analysts

Columbus McKinnon Corporation (NASDAQ:CMCO) has been given a consensus rating of “Hold” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $22.00.

A number of brokerages have recently issued reports on CMCO. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, DA Davidson lowered their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position 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 during the period. Group One Trading LLC raised its stake 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 valued at $32,000 after buying an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of 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 buying an additional 1,000 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after buying an additional 1,893 shares during the period. Finally, Royal Bank of Canada boosted its stake 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 last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $14.33 on Friday. Columbus McKinnon has a twelve month low of $11.99 and a twelve month high of $24.40. The firm has a market cap of $413.13 million, a P/E ratio of -2.61 and a beta of 1.39. The company has a 50 day moving average of $14.30 and a 200 day moving average of $16.49. The company has a quick ratio of 0.98, a current ratio of 2.02 and a debt-to-equity ratio of 3.38.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). The business had revenue of $437.83 million for the quarter, compared to analysts’ expectations of $419.56 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The business’s revenue for the quarter was up 77.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, research analysts expect that Columbus McKinnon will post 1.73 EPS for the current fiscal year.

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.