Columbus McKinnon Corp. (CMCO) Rating Increased to Buy at TheStreet
Columbus McKinnon Corp. (NASDAQ:CMCO) was upgraded by equities research analysts at TheStreet from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Separately, Zacks Investment Research upgraded Columbus McKinnon Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, September 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $17.67.
Columbus McKinnon Corp. (NASDAQ:CMCO) opened at 23.73 on Thursday. Columbus McKinnon Corp. has a 12 month low of $12.62 and a 12 month high of $24.53. The firm has a market capitalization of $480.15 million, a price-to-earnings ratio of 18.41 and a beta of 1.68. The firm has a 50-day moving average price of $18.48 and a 200 day moving average price of $16.65.
Columbus McKinnon Corp. (NASDAQ:CMCO) last posted its quarterly earnings results on Friday, October 28th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Columbus McKinnon Corp. had a return on equity of 9.72% and a net margin of 4.28%. The company earned $151.90 million during the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Columbus McKinnon Corp. will post $1.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 21st. Shareholders of record on Friday, November 11th will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.16 annualized dividend and a yield of 0.67%. Columbus McKinnon Corp.’s dividend payout ratio is presently 12.31%.
In other Columbus McKinnon Corp. news, VP Alan S. Korman sold 2,000 shares of Columbus McKinnon Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $17.91, for a total transaction of $35,820.00. Following the transaction, the vice president now directly owns 16,142 shares in the company, valued at $289,103.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.78% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Columbus McKinnon Corp. by 2.3% in the first quarter. Royal Bank of Canada now owns 2,628,577 shares of the company’s stock valued at $41,426,000 after buying an additional 59,860 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Columbus McKinnon Corp. during the second quarter valued at $2,239,000. Aristotle Capital Boston LLC raised its position in Columbus McKinnon Corp. by 3.1% in the second quarter. Aristotle Capital Boston LLC now owns 244,766 shares of the company’s stock valued at $3,463,000 after buying an additional 7,249 shares in the last quarter. Skyline Asset Management LP raised its position in Columbus McKinnon Corp. by 41.0% in the first quarter. Skyline Asset Management LP now owns 570,650 shares of the company’s stock valued at $8,993,000 after buying an additional 166,000 shares in the last quarter. Finally, LSV Asset Management raised its position in Columbus McKinnon Corp. by 4.9% in the second quarter. LSV Asset Management now owns 561,171 shares of the company’s stock valued at $7,940,000 after buying an additional 26,332 shares in the last quarter. Hedge funds and other institutional investors own 83.06% of the company’s stock.
About Columbus McKinnon Corp.
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