Columbus McKinnon (NASDAQ:CMCO) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
CMCO has been the subject of a number of other research reports. Roth Capital lifted their price target on Columbus McKinnon from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research cut Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Seaport Global Securities reiterated a “buy” rating and set a $50.00 price target on shares of Columbus McKinnon in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $44.25.
Shares of Columbus McKinnon (CMCO) traded up $1.63 during midday trading on Friday, hitting $44.42. The stock had a trading volume of 191,883 shares, compared to its average volume of 123,538. Columbus McKinnon has a 12 month low of $22.88 and a 12 month high of $44.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.96 and a quick ratio of 1.18. The company has a market cap of $1,021.57, a PE ratio of 26.44 and a beta of 1.91.
In other news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark R. Paradowski sold 3,906 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.96, for a total value of $156,083.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,754 shares of company stock valued at $1,408,020. Corporate insiders own 3.91% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Columbus McKinnon in the third quarter valued at approximately $141,000. Laurion Capital Management LP acquired a new position in Columbus McKinnon during the second quarter valued at approximately $202,000. Cubist Systematic Strategies LLC acquired a new position in Columbus McKinnon during the third quarter valued at approximately $202,000. Trexquant Investment LP bought a new stake in shares of Columbus McKinnon during the third quarter worth $212,000. Finally, WealthTrust Axiom LLC bought a new stake in shares of Columbus McKinnon during the third quarter worth $227,000. Institutional investors own 85.08% of the company’s stock.
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About Columbus McKinnon
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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