Brokerages Set Columbus McKinnon Corporation (NASDAQ:CMCO) Target Price at $22.00

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have earned an average rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.00.

Several research firms recently issued reports on CMCO. Zacks Research lowered Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. DA Davidson cut their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. Finally, Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in Columbus McKinnon by 48.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 565 shares in the last quarter. Group One Trading LLC boosted its stake in Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Columbus McKinnon by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,893 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Columbus McKinnon by 41.4% during the fourth quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 918 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $15.70 on Friday. 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 capitalization of $452.63 million, a P/E ratio of -2.86 and a beta of 1.39. The company has a 50 day moving average price of $14.30 and a 200 day moving average price of $16.47. Columbus McKinnon has a fifty-two week low of $11.99 and a fifty-two week high of $24.40.

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 firm had revenue of $437.83 million during the quarter, compared to analysts’ expectations of $419.56 million. During the same period in the previous year, the firm earned $0.60 EPS. The firm’s revenue for the quarter 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. Equities research analysts forecast that Columbus McKinnon will post 1.73 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. Columbus McKinnon’s dividend payout ratio is -5.11%.

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.