Wall Street Zen Downgrades Columbus McKinnon (NASDAQ:CMCO) to Buy

Columbus McKinnon (NASDAQ:CMCO) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

A number of other analysts have also weighed in on the company. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. cut their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Zacks Research lowered Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. Finally, DA Davidson set a $20.00 price objective on Columbus McKinnon in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.50.

Columbus McKinnon Trading Down 2.2%

NASDAQ CMCO opened at $13.89 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. The company has a market capitalization of $399.20 million, a price-to-earnings ratio of 66.14 and a beta of 1.32. The company’s 50-day simple moving average is $19.28 and its two-hundred day simple moving average is $17.13. Columbus McKinnon has a one year low of $11.78 and a one year high of $24.40.

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

Insider Buying and Selling

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total transaction of $120,706.80. Following the sale, the insider owned 9,366 shares in the company, valued at approximately $218,040.48. The trade was a 35.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMCO. AQR Capital Management LLC increased its holdings in Columbus McKinnon by 32.4% in the 1st quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company’s stock worth $2,091,000 after buying an additional 30,255 shares during the period. Goldman Sachs Group Inc. lifted its stake in Columbus McKinnon by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company’s stock valued at $3,739,000 after acquiring an additional 10,780 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Columbus McKinnon by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 697,270 shares of the industrial products company’s stock valued at $10,649,000 after acquiring an additional 2,581 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Columbus McKinnon by 12.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 32,846 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 3,621 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Columbus McKinnon in the second quarter worth $241,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Company Profile

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.