Columbus McKinnon (CMCO) Lowered to “Strong Sell” at BidaskClub

Columbus McKinnon (NASDAQ:CMCO) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

A number of other research firms have also recently commented on CMCO. Seaport Global Securities reissued a “buy” rating and issued a $50.00 price target on shares of Columbus McKinnon in a research note on Wednesday, January 10th. Roth Capital upped their price objective on shares of Columbus McKinnon from $41.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, January 15th. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.33.

Columbus McKinnon (CMCO) traded up $0.94 during mid-day trading on Thursday, reaching $35.59. 300,801 shares of the company’s stock were exchanged, compared to its average volume of 180,537. The company has a current ratio of 1.81, a quick ratio of 1.18 and a debt-to-equity ratio of 0.83. Columbus McKinnon has a fifty-two week low of $23.12 and a fifty-two week high of $44.55. The stock has a market cap of $819.35, a PE ratio of 96.19 and a beta of 1.78.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.13. Columbus McKinnon had a net margin of 1.10% and a return on equity of 11.87%. The business had revenue of $208.73 million during the quarter, compared to analysts’ expectations of $201.08 million. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. sell-side analysts forecast that Columbus McKinnon will post 2 earnings per share for the current fiscal year.

In other news, VP Mark R. Paradowski sold 3,906 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total value of $156,083.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alan S. Korman sold 1,558 shares of the company’s stock in a transaction on Monday, December 4th. The shares were 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 a total of 6,225 shares of company stock valued at $247,918 in the last ninety days. 3.91% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Howe & Rusling Inc. bought a new stake in Columbus McKinnon during the 4th quarter valued at $114,000. SG Americas Securities LLC bought a new stake in Columbus McKinnon during the 3rd quarter valued at $141,000. Cubist Systematic Strategies LLC bought a new stake in Columbus McKinnon during the 3rd quarter valued at $202,000. Trexquant Investment LP bought a new stake in Columbus McKinnon during the 3rd quarter valued at $212,000. Finally, WealthTrust Axiom LLC bought a new stake in Columbus McKinnon during the 3rd quarter valued at $227,000. 84.93% of the stock is owned by institutional investors.

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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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