Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Average Recommendation of “Hold” from Analysts

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have received a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $22.00.

A number of research firms have weighed in on CMCO. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Zacks Research cut Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. DA Davidson reduced their price objective on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Finally, Wall Street Zen cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CMCO. AQR Capital Management LLC boosted its stake in shares of Columbus McKinnon by 32.4% in the 1st quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company’s stock valued at $2,091,000 after purchasing an additional 30,255 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Columbus McKinnon by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company’s stock worth $3,739,000 after purchasing an additional 10,780 shares during the period. Russell Investments Group Ltd. raised its position in Columbus McKinnon by 1,222.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 17,696 shares of the industrial products company’s stock worth $270,000 after purchasing an additional 16,358 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Columbus McKinnon in the second quarter worth $1,658,000. Finally, Marshall Wace LLP bought a new stake in Columbus McKinnon in the second quarter worth $1,390,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $16.12 on Friday. The firm’s fifty day moving average price is $14.35 and its 200-day moving average price is $16.45. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.98 and a current ratio of 2.02. The stock has a market cap of $464.74 million, a P/E ratio of -2.94 and a beta of 1.39. Columbus McKinnon has a fifty-two week low of $11.99 and a fifty-two week high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last posted 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 $419.56 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The business’s revenue was up 77.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, equities research analysts expect that Columbus McKinnon will post 1.73 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, August 7th. Columbus McKinnon’s dividend payout ratio (DPR) is presently -5.11%.

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.