Columbus McKinnon (NASDAQ:CMCO) Stock Rating Lowered by Wall Street Zen

Columbus McKinnon (NASDAQ:CMCO) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

A number of other research analysts have also commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. DA Davidson set a $15.00 price objective on shares of Columbus McKinnon in a research note on Thursday, January 15th. Finally, CJS Securities raised shares of Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.00.

Columbus McKinnon Stock Down 1.4%

NASDAQ CMCO opened at $20.96 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.81. The firm has a 50-day simple moving average of $17.79 and a 200 day simple moving average of $16.04. Columbus McKinnon has a twelve month low of $11.78 and a twelve month high of $37.76. The stock has a market cap of $602.18 million, a PE ratio of 149.72 and a beta of 1.29.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $261.05 million for the quarter, compared to analyst estimates of $240.63 million. Columbus McKinnon had a return on equity of 7.33% and a net margin of 0.41%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. On average, research analysts forecast that Columbus McKinnon will post 2.69 EPS for the current year.

Institutional Investors Weigh In On Columbus McKinnon

A number of large investors have recently bought and sold shares of CMCO. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $308,000. Assenagon Asset Management S.A. bought a new position in Columbus McKinnon in the third quarter valued at about $8,040,000. Savant Capital LLC acquired a new stake in Columbus McKinnon in the second quarter worth about $320,000. Janney Montgomery Scott LLC bought a new stake in Columbus McKinnon during the 2nd quarter worth about $869,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Columbus McKinnon during the 2nd quarter valued at about $1,480,000. 95.96% of the stock is currently owned by 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.