Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Columbus McKinnon Corporation (NASDAQ:CMCO) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.00.

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Weiss Ratings cut shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. DA Davidson lowered their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Zacks Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th.

Insider Buying and Selling

In other news, EVP John R. Linker bought 7,500 shares of the company’s stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $19.67 per share, with a total value of $147,525.00. Following the transaction, the executive vice president directly owned 7,500 shares in the company, valued at approximately $147,525. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Columbus McKinnon

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Columbus McKinnon by 48.0% during the fourth 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 in the last quarter. Group One Trading LLC grew its position in Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake 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 purchasing an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC increased its stake 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 purchasing an additional 1,893 shares during the last quarter. Finally, Royal Bank of Canada raised 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 valued at $54,000 after purchasing an additional 918 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $19.55 on Wednesday. Columbus McKinnon has a one year low of $11.99 and a one year high of $24.40. The company has a 50-day moving average of $15.31 and a two-hundred day moving average of $16.36. The stock has a market cap of $564.21 million, a price-to-earnings ratio of -2.62 and a beta of 1.37. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities research analysts expect that Columbus McKinnon will post 2.05 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. Columbus McKinnon’s dividend payout ratio (DPR) is presently -3.75%.

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.