Columbus McKinnon Corporation (NASDAQ:CMCO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “

A number of other research analysts have also weighed in on the company. BidaskClub lowered Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. ValuEngine raised shares of Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Roth Capital set a $36.00 target price on shares of Columbus McKinnon Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, TheStreet upgraded shares of Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Columbus McKinnon Corporation presently has a consensus rating of “Buy” and a consensus target price of $34.50.

Columbus McKinnon Corporation (NASDAQ:CMCO) traded up 0.89% during mid-day trading on Tuesday, reaching $38.38. 123,814 shares of the company’s stock were exchanged. The company has a 50-day moving average of $33.49 and a 200-day moving average of $28.09. The stock has a market cap of $868.35 million, a price-to-earnings ratio of 58.15 and a beta of 1.90. Columbus McKinnon Corporation has a 52-week low of $16.86 and a 52-week high of $38.64.

Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.23. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The company had revenue of $203.70 million during the quarter, compared to analysts’ expectations of $190.62 million. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year. Equities research analysts anticipate that Columbus McKinnon Corporation will post $1.90 earnings per share for the current year.

WARNING: This piece of content was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/03/columbus-mckinnon-corporation-cmco-stock-rating-lowered-by-zacks-investment-research.html.

In other Columbus McKinnon Corporation news, CEO Timothy T. Tevens sold 8,770 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $32.15, for a total transaction of $281,955.50. Following the transaction, the chief executive officer now directly owns 293,536 shares in the company, valued at $9,437,182.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy T. Tevens sold 45,172 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $32.76, for a total transaction of $1,479,834.72. Following the transaction, the director now owns 293,536 shares in the company, valued at $9,616,239.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,932 shares of company stock worth $5,416,512. 3.91% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC lifted its stake in Columbus McKinnon Corporation by 11.6% in the fourth quarter. Teachers Advisors LLC now owns 31,963 shares of the industrial products company’s stock worth $864,000 after purchasing an additional 3,315 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Columbus McKinnon Corporation by 5.1% during the first quarter. Nationwide Fund Advisors now owns 43,535 shares of the industrial products company’s stock valued at $1,081,000 after purchasing an additional 2,115 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Columbus McKinnon Corporation by 21.6% during the first quarter. Russell Investments Group Ltd. now owns 56,244 shares of the industrial products company’s stock valued at $1,396,000 after purchasing an additional 9,999 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Columbus McKinnon Corporation by 87.0% during the first quarter. Wells Fargo & Company MN now owns 28,723 shares of the industrial products company’s stock valued at $712,000 after purchasing an additional 13,367 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Columbus McKinnon Corporation by 121.0% during the first quarter. American Century Companies Inc. now owns 22,529 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 12,337 shares during the period. 86.37% of the stock is owned by institutional investors.

About Columbus McKinnon Corporation

Get a free copy of the Zacks research report on Columbus McKinnon Corporation (CMCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.