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

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

A number of other brokerages also recently issued reports on CMCO. Weiss Ratings reissued a “sell (d)” rating on shares of Columbus McKinnon in a research report on Wednesday, October 8th. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, DA Davidson set a $15.00 price target on Columbus McKinnon in a research report on Thursday, January 15th. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.00.

Columbus McKinnon Stock Performance

NASDAQ:CMCO traded down $0.30 during mid-day trading on Friday, reaching $20.96. 310,586 shares of the company’s stock were exchanged, compared to its average volume of 258,473. Columbus McKinnon has a one year low of $11.78 and a one year high of $37.76. 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 business’s fifty day simple moving average is $17.79 and its two-hundred day simple moving average is $16.04. The firm has a market capitalization of $602.18 million, a PE ratio of 149.72 and a beta of 1.29.

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

Institutional Investors Weigh In On Columbus McKinnon

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Columbus McKinnon during the 2nd quarter valued at approximately $308,000. Assenagon Asset Management S.A. acquired a new position in shares of Columbus McKinnon in the 3rd quarter worth approximately $8,040,000. Savant Capital LLC bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $320,000. Janney Montgomery Scott LLC acquired a new stake in shares of Columbus McKinnon during the second quarter worth $869,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Columbus McKinnon during the second quarter worth $1,480,000. 95.96% of the stock is currently 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.