Columbus McKinnon (NASDAQ:CMCO) Given New $36.00 Price Target at Barrington Research

Columbus McKinnon (NASDAQ:CMCO) had its price objective increased by Barrington Research from $34.00 to $36.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Barrington Research’s target price would suggest a potential upside of 8.37% from the stock’s current price.

Several other research analysts have also issued reports on the company. CJS Securities lowered Columbus McKinnon from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 31st. Sidoti lowered Columbus McKinnon from a “buy” rating to a “neutral” rating in a research report on Thursday, April 30th. BidaskClub upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research lowered Columbus McKinnon from a “buy” rating to a “strong sell” rating in a report on Thursday, April 16th. Finally, ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.80.

CMCO traded up $1.15 during mid-day trading on Tuesday, reaching $33.22. The stock had a trading volume of 1,688 shares, compared to its average volume of 150,623. The stock has a market capitalization of $761.40 million, a P/E ratio of 13.33, a P/E/G ratio of 3.20 and a beta of 1.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.64 and a current ratio of 2.46. The firm’s fifty day simple moving average is $29.37 and its two-hundred day simple moving average is $31.56. Columbus McKinnon has a 52 week low of $19.20 and a 52 week high of $43.09.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Wednesday, May 27th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. Columbus McKinnon had a return on equity of 14.24% and a net margin of 7.37%. The business had revenue of $189.49 million for the quarter, compared to analyst estimates of $187.25 million. As a group, analysts expect that Columbus McKinnon will post 0.83 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Granahan Investment Management Inc. MA lifted its holdings in Columbus McKinnon by 1.3% during the first quarter. Granahan Investment Management Inc. MA now owns 532,655 shares of the industrial products company’s stock worth $13,316,000 after acquiring an additional 6,595 shares in the last quarter. Synovus Financial Corp raised its stake in shares of Columbus McKinnon by 24.7% in the 1st quarter. Synovus Financial Corp now owns 13,108 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 2,593 shares during the period. SG Americas Securities LLC raised its stake in shares of Columbus McKinnon by 127.6% in the 1st quarter. SG Americas Securities LLC now owns 8,272 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 4,637 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Columbus McKinnon by 16.7% in the 1st quarter. Nuveen Asset Management LLC now owns 319,418 shares of the industrial products company’s stock valued at $7,986,000 after purchasing an additional 45,721 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Columbus McKinnon by 27.4% in the 1st quarter. First Trust Advisors LP now owns 35,165 shares of the industrial products company’s stock valued at $879,000 after purchasing an additional 7,558 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

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 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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