Columbus McKinnon Corporation (CMCO) Receives Average Recommendation of “Buy” from Brokerages
Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have received an average recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $37.00.
A number of research firms have issued reports on CMCO. Zacks Investment Research upgraded Columbus McKinnon Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Thursday. Roth Capital lifted their price target on Columbus McKinnon Corporation from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday. ValuEngine downgraded Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. TheStreet upgraded Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th.
In other Columbus McKinnon Corporation news, VP Gene P. Buer sold 30,529 shares of Columbus McKinnon Corporation stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $38.00, for a total transaction of $1,160,102.00. Following the transaction, the vice president now owns 17,136 shares of the company’s stock, valued at approximately $651,168. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Gene P. Buer sold 28,795 shares of Columbus McKinnon Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $32.67, for a total transaction of $940,732.65. Following the transaction, the vice president now directly owns 24,522 shares in the company, valued at approximately $801,133.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,769 shares of company stock worth $5,820,059. Insiders own 3.91% of the company’s stock.
Several institutional investors have recently bought and sold shares of CMCO. Principal Financial Group Inc. bought a new position in shares of Columbus McKinnon Corporation during the 1st quarter worth approximately $6,443,000. Dimensional Fund Advisors LP raised its holdings in shares of Columbus McKinnon Corporation by 13.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,264,809 shares of the industrial products company’s stock worth $31,393,000 after purchasing an additional 152,165 shares during the period. Kennedy Capital Management Inc. raised its holdings in shares of Columbus McKinnon Corporation by 188.5% in the 2nd quarter. Kennedy Capital Management Inc. now owns 226,151 shares of the industrial products company’s stock worth $5,749,000 after purchasing an additional 147,775 shares during the period. Royal Bank of Canada raised its holdings in shares of Columbus McKinnon Corporation by 4.7% in the 2nd quarter. Royal Bank of Canada now owns 2,608,542 shares of the industrial products company’s stock worth $66,309,000 after purchasing an additional 118,139 shares during the period. Finally, EAM Investors LLC bought a new stake in shares of Columbus McKinnon Corporation in the 2nd quarter worth approximately $2,490,000. 86.97% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Columbus McKinnon Corporation (NASDAQ CMCO) opened at $38.27 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.96 and a debt-to-equity ratio of 0.89. The company has a market cap of $880.13, a P/E ratio of 22.78 and a beta of 1.92.
Columbus McKinnon Corporation (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $212.80 million during the quarter, compared to the consensus estimate of $203.27 million. Columbus McKinnon Corporation had a return on equity of 10.95% and a net margin of 2.65%. The company’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. equities research analysts forecast that Columbus McKinnon Corporation will post 1.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. Columbus McKinnon Corporation’s dividend payout ratio (DPR) is currently 18.82%.
About Columbus McKinnon Corporation
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