Columbus McKinnon (NASDAQ:CMCO) Downgraded by Zacks Research to Hold

Columbus McKinnon (NASDAQ:CMCO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. DA Davidson cut their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, June 15th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings cut Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.00.

Columbus McKinnon Trading Down 1.7%

Shares of CMCO stock opened at $13.24 on Thursday. Columbus McKinnon has a 52-week low of $11.99 and a 52-week high of $24.40. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.98 and a current ratio of 2.02. The stock has a market cap of $381.71 million, a price-to-earnings ratio of -2.42 and a beta of 1.39. The firm has a fifty day moving average of $14.51 and a 200-day moving average of $16.66.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The business had revenue of $437.83 million during the quarter, compared to the consensus estimate of $419.56 million. During the same period in the previous year, the firm posted $0.60 EPS. The company’s revenue was up 77.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, equities research analysts forecast that Columbus McKinnon will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Columbus McKinnon

A number of large investors have recently bought and sold shares of the company. First Eagle Investment Management LLC bought a new position in Columbus McKinnon in the fourth quarter valued at approximately $2,465,000. Bernzott Capital Advisors lifted its position in shares of Columbus McKinnon by 83.0% during the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company’s stock worth $9,329,000 after buying an additional 245,222 shares during the last quarter. Legato Capital Management LLC lifted its position in shares of Columbus McKinnon by 214.8% during the 4th quarter. Legato Capital Management LLC now owns 67,336 shares of the industrial products company’s stock worth $1,162,000 after buying an additional 45,945 shares during the last quarter. Heartland Advisors Inc. boosted its stake in Columbus McKinnon by 26.1% in the fourth quarter. Heartland Advisors Inc. now owns 595,100 shares of the industrial products company’s stock valued at $10,265,000 after buying an additional 123,025 shares in the last quarter. Finally, LSV Asset Management grew its position in Columbus McKinnon by 56.6% in the fourth quarter. LSV Asset Management now owns 107,746 shares of the industrial products company’s stock valued at $1,859,000 after acquiring an additional 38,946 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.