Columbus McKinnon (CMCO) Stock Rating Lowered by ValuEngine

Columbus McKinnon (NASDAQ:CMCO) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, August 1st.

Other analysts also recently issued reports about the company. Roth Capital assumed coverage on Columbus McKinnon in a research report on Friday, July 28th. They issued a “buy” rating and a $33.00 target price for the company. BidaskClub downgraded Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, TheStreet downgraded Columbus McKinnon from a “b-” rating to a “c” rating in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $47.33.

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NASDAQ CMCO traded down $0.39 during trading hours on Tuesday, hitting $35.40. 43,571 shares of the company’s stock were exchanged, compared to its average volume of 127,099. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.81 and a quick ratio of 1.06. Columbus McKinnon has a 1-year low of $23.19 and a 1-year high of $44.55. The stock has a market capitalization of $823.94, a P/E ratio of 26.82 and a beta of 1.85.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.13. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. The firm had revenue of $208.73 million during the quarter, compared to analysts’ expectations of $201.08 million. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. equities analysts expect that Columbus McKinnon will post 2 earnings per share for the current year.

In related news, VP Alan S. Korman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $74,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alan S. Korman sold 1,724 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $36.00, for a total value of $62,064.00. Following the transaction, the vice president now owns 16,593 shares of the company’s stock, valued at $597,348. The disclosure for this sale can be found here. 3.91% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of CMCO. Howe & Rusling Inc. bought a new position in Columbus McKinnon in the 4th quarter valued at approximately $114,000. SG Americas Securities LLC bought a new position in shares of Columbus McKinnon during the 3rd quarter valued at $141,000. Globeflex Capital L P bought a new position in shares of Columbus McKinnon during the 4th quarter valued at $149,000. Envestnet Asset Management Inc. lifted its holdings in shares of Columbus McKinnon by 1.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock valued at $151,000 after buying an additional 91 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Columbus McKinnon during the 3rd quarter valued at $202,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

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Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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