Columbus McKinnon Corp. (NASDAQ:CMCO) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $47.75.
Several research firms have commented on CMCO. Dougherty & Co reissued a “buy” rating on shares of Columbus McKinnon in a report on Friday, November 8th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 7th. Barrington Research initiated coverage on shares of Columbus McKinnon in a research report on Tuesday, December 17th. They set an “outperform” rating and a $50.00 target price on the stock. BidaskClub cut shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Wednesday, December 25th. Finally, ValuEngine upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday.
In related news, VP Kurt F. Wozniak sold 6,989 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $39.64, for a total value of $277,043.96. Following the sale, the vice president now directly owns 37,896 shares of the company’s stock, valued at approximately $1,502,197.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark R. Paradowski sold 1,296 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $39.83, for a total transaction of $51,619.68. Insiders sold a total of 18,503 shares of company stock worth $738,459 over the last three months. 2.39% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Columbus McKinnon by 59.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,557 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 580 shares during the period. First Mercantile Trust Co. raised its position in Columbus McKinnon by 11.6% in the 3rd quarter. First Mercantile Trust Co. now owns 3,278 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 340 shares during the period. Convergence Investment Partners LLC purchased a new stake in Columbus McKinnon in the 3rd quarter worth about $146,000. Synovus Financial Corp purchased a new stake in Columbus McKinnon in the 3rd quarter worth about $242,000. Finally, Paloma Partners Management Co purchased a new stake in Columbus McKinnon in the 2nd quarter worth about $287,000. 99.23% of the stock is currently owned by institutional investors.
CMCO opened at $37.19 on Wednesday. The firm has a 50-day simple moving average of $39.90 and a two-hundred day simple moving average of $38.03. Columbus McKinnon has a 52 week low of $30.76 and a 52 week high of $43.09. The company has a market capitalization of $893.23 million, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.32 and a beta of 1.74. The company has a quick ratio of 1.05, a current ratio of 1.73 and a debt-to-equity ratio of 0.44.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. Columbus McKinnon had a net margin of 6.34% and a return on equity of 15.40%. The business had revenue of $207.60 million during the quarter, compared to the consensus estimate of $206.68 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Columbus McKinnon will post 2.86 earnings per share for the current year.
About Columbus McKinnon
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 applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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