Columbus McKinnon (NASDAQ:CMCO) Rating Lowered to Hold at Wall Street Zen

Columbus McKinnon (NASDAQ:CMCO) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

CMCO has been the subject of several other reports. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Zacks Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Finally, DA Davidson reissued a “neutral” rating and set a $20.00 price objective on shares of Columbus McKinnon in a report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Columbus McKinnon Price Performance

Shares of CMCO stock opened at $13.83 on Friday. The firm has a market cap of $398.72 million, a P/E ratio of -2.52 and a beta of 1.38. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.99. Columbus McKinnon has a 1-year low of $11.99 and a 1-year high of $24.40. The firm has a fifty day moving average of $14.98 and a two-hundred day moving average of $17.06.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). The company had revenue of $437.83 million for the quarter, compared to analyst estimates of $419.57 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.Columbus McKinnon’s revenue was up 77.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, research analysts anticipate that Columbus McKinnon will post 1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in shares of Columbus McKinnon by 18.1% in the 4th quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock valued at $61,000 after buying an additional 545 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after buying an additional 565 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Columbus McKinnon by 4.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock valued at $346,000 after buying an additional 850 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Columbus McKinnon by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock valued at $166,000 after buying an additional 852 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Columbus McKinnon by 41.4% in the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock valued at $54,000 after buying an additional 918 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

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.