BidaskClub Lowers Columbus McKinnon Corporation (CMCO) to Strong Sell
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.
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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
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