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

Columbus McKinnon Corporation (NASDAQ:CMCO) has received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $22.00.

CMCO has been the topic of several analyst reports. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, DA Davidson dropped 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.

Columbus McKinnon Stock Down 2.2%

Columbus McKinnon stock opened at $14.46 on Tuesday. The firm’s 50 day moving average price is $14.87 and its two-hundred day moving average price is $16.92. Columbus McKinnon has a twelve month low of $11.99 and a twelve month high of $24.40. The firm has a market cap of $416.77 million, a PE ratio of -2.64 and a beta of 1.38. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.98 and a current ratio of 2.02.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.The business had revenue of $437.83 million for the quarter, compared to analyst estimates of $419.57 million. During the same quarter last year, the company earned $0.60 EPS. The business’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. On average, research analysts predict that Columbus McKinnon will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CMCO. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 565 shares during the period. Group One Trading LLC boosted its holdings in shares of Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in shares of Columbus McKinnon by 66.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after buying an additional 1,000 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after buying an additional 1,893 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after buying an additional 918 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.