Analysts Set Columbus McKinnon Corporation (NASDAQ:CMCO) Target Price at $23.50

Columbus McKinnon Corporation (NASDAQ:CMCO) has been assigned an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $23.50.

A number of analysts have weighed in on CMCO shares. CJS Securities raised Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. Zacks Research lowered Columbus McKinnon from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. JPMorgan Chase & Co. cut their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. DA Davidson set a $20.00 target price on Columbus McKinnon in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th.

Insider Transactions at Columbus McKinnon

In related news, insider Jon Adams sold 5,185 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total value of $120,706.80. Following the transaction, the insider directly owned 9,366 shares in the company, valued at approximately $218,040.48. This trade represents a 35.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in Columbus McKinnon by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company’s stock valued at $25,135,000 after purchasing an additional 5,210 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Columbus McKinnon during the 4th quarter worth about $273,000. Front Street Capital Management Inc. raised its position in shares of Columbus McKinnon by 2.4% during the fourth quarter. Front Street Capital Management Inc. now owns 213,785 shares of the industrial products company’s stock valued at $3,688,000 after buying an additional 4,918 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Columbus McKinnon in the fourth quarter valued at about $2,001,000. Finally, Empowered Funds LLC lifted its stake in shares of Columbus McKinnon by 156.2% in the fourth quarter. Empowered Funds LLC now owns 117,778 shares of the industrial products company’s stock valued at $2,032,000 after buying an additional 71,813 shares during the period. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $14.20 on Friday. The firm has a market cap of $408.11 million, a price-to-earnings ratio of 67.62 and a beta of 1.32. The company’s fifty day moving average is $19.40 and its 200-day moving average is $17.12. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. Columbus McKinnon has a 12 month low of $11.78 and a 12 month high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $258.66 million during the quarter, compared to analysts’ expectations of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. Columbus McKinnon’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. Equities analysts expect that Columbus McKinnon will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Friday, February 13th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, February 13th. Columbus McKinnon’s dividend payout ratio is currently 133.33%.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.