Columbus McKinnon (NASDAQ:CMCO) Stock Rating Upgraded by Zacks Research

Columbus McKinnon (NASDAQ:CMCO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on CMCO. Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 22nd. JPMorgan Chase & Co. dropped their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings cut Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $20.00 price objective on shares of Columbus McKinnon in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.50.

Columbus McKinnon Trading Up 10.2%

NASDAQ:CMCO opened at $13.36 on Wednesday. Columbus McKinnon has a twelve month low of $11.99 and a twelve month high of $24.40. The company has a quick ratio of 0.99, a current ratio of 2.02 and a debt-to-equity ratio of 3.38. The business has a 50 day moving average price of $14.99 and a two-hundred day moving average price of $17.09. The company has a market cap of $385.17 million, a P/E ratio of -2.44 and a beta of 1.38.

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

Institutional Investors Weigh In On Columbus McKinnon

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 565 shares during the period. Group One Trading LLC raised its stake in Columbus McKinnon by 266.7% in the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 1,000 shares during the period. Tower Research Capital LLC TRC raised its stake in Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,893 shares during the period. Finally, Royal Bank of Canada raised its stake in 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 acquiring an additional 918 shares during the period. Institutional investors 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.