Columbus McKinnon Corporation (CMCO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $45.00.

CMCO has been the subject of a number of research analyst reports. Roth Capital lifted their target price on shares of Columbus McKinnon from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday, November 2nd. ValuEngine upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $50.00 target price on shares of Columbus McKinnon in a research note on Wednesday, January 10th.

In related news, VP Mark R. Paradowski sold 3,906 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total value of $156,083.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alan S. Korman sold 1,558 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $40.10, for a total transaction of $62,475.80. The disclosure for this sale can be found here. Insiders sold 36,754 shares of company stock valued at $1,408,020 in the last quarter. 3.91% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CMCO. SG Americas Securities LLC bought a new position in Columbus McKinnon in the 3rd quarter worth approximately $141,000. Laurion Capital Management LP bought a new position in Columbus McKinnon in the 2nd quarter worth approximately $202,000. Cubist Systematic Strategies LLC bought a new position in Columbus McKinnon in the 3rd quarter worth approximately $202,000. Trexquant Investment LP bought a new position in Columbus McKinnon in the 3rd quarter worth approximately $212,000. Finally, WealthTrust Axiom LLC bought a new position in Columbus McKinnon in the 3rd quarter worth approximately $227,000. Hedge funds and other institutional investors own 85.08% of the company’s stock.

Columbus McKinnon (NASDAQ:CMCO) opened at $42.79 on Friday. The company has a market cap of $984.79, a PE ratio of 50.34 and a beta of 1.91. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.18 and a current ratio of 1.96. Columbus McKinnon has a one year low of $22.88 and a one year high of $44.33.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $203.27 million. Columbus McKinnon had a net margin of 2.65% and a return on equity of 10.95%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 earnings per share. equities analysts expect that Columbus McKinnon will post 1.95 EPS for the current year.

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Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.

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