Columbus McKinnon Corporation (NASDAQ:CMCO) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

CMCO has been the subject of a number of other reports. Zacks Investment Research lowered shares of Columbus McKinnon Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. TheStreet lowered shares of Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $31.00.

Columbus McKinnon Corporation (NASDAQ:CMCO) traded up 1.16% during trading on Thursday, hitting $25.36. The stock had a trading volume of 105,169 shares. The firm has a 50 day moving average price of $26.12 and a 200-day moving average price of $26.14. The firm has a market capitalization of $573.06 million, a PE ratio of 58.98 and a beta of 1.92. Columbus McKinnon Corporation has a 1-year low of $15.23 and a 1-year high of $29.65.

Columbus McKinnon Corporation (NASDAQ:CMCO) last released its quarterly earnings data on Friday, June 2nd. The industrial products company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Columbus McKinnon Corporation had a net margin of 1.41% and a return on equity of 9.03%. The business had revenue of $183.70 million during the quarter, compared to analyst estimates of $176.40 million. During the same period in the previous year, the business earned $0.37 EPS. Columbus McKinnon Corporation’s revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts expect that Columbus McKinnon Corporation will post $1.69 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “BidaskClub Lowers Columbus McKinnon Corporation (CMCO) to Strong Sell” was reported by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/07/16/bidaskclub-lowers-columbus-mckinnon-corporation-cmco-to-strong-sell.html.

In other Columbus McKinnon Corporation news, VP Alan S. Korman sold 1,000 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $28.71, for a total value of $28,710.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,500 shares of company stock valued at $123,960 over the last three months. 3.91% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in Columbus McKinnon Corporation during the fourth quarter valued at $1,240,000. State Street Corp increased its stake in Columbus McKinnon Corporation by 6.1% in the fourth quarter. State Street Corp now owns 334,187 shares of the industrial products company’s stock valued at $9,040,000 after buying an additional 19,266 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Columbus McKinnon Corporation by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,112,644 shares of the industrial products company’s stock valued at $30,086,000 after buying an additional 82,837 shares in the last quarter. Renaissance Technologies LLC increased its stake in Columbus McKinnon Corporation by 48.4% in the fourth quarter. Renaissance Technologies LLC now owns 59,500 shares of the industrial products company’s stock valued at $1,609,000 after buying an additional 19,415 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Columbus McKinnon Corporation by 10.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,003 shares of the industrial products company’s stock valued at $162,000 after buying an additional 550 shares in the last quarter. 84.74% of the stock is owned by institutional investors and hedge funds.

About Columbus McKinnon Corporation

Receive News & Ratings for Columbus McKinnon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon Corporation and related companies with MarketBeat.com's FREE daily email newsletter.