Columbus McKinnon Corporation (CMCO) Cut to Hold at ValuEngine
ValuEngine downgraded shares of Columbus McKinnon Corporation (NASDAQ:CMCO) from a buy rating to a hold rating in a research note issued to investors on Tuesday.
Several other brokerages have also weighed in on CMCO. Zacks Investment Research lowered Columbus McKinnon Corporation from a strong-buy rating to a hold rating in a research note on Tuesday. Roth Capital set a $36.00 price target on Columbus McKinnon Corporation and gave the company a buy rating in a research note on Thursday, August 3rd. TheStreet upgraded Columbus McKinnon Corporation from a c rating to a b rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded Columbus McKinnon Corporation from a strong sell rating to a sell rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Columbus McKinnon Corporation presently has an average rating of Hold and an average price target of $34.50.
Columbus McKinnon Corporation (NASDAQ CMCO) traded up 0.08% during mid-day trading on Tuesday, hitting $38.00. The company had a trading volume of 14,912 shares. Columbus McKinnon Corporation has a 12 month low of $16.86 and a 12 month high of $38.64. The firm has a market capitalization of $859.75 million, a P/E ratio of 57.58 and a beta of 1.90. The company has a 50-day moving average price of $33.88 and a 200 day moving average price of $28.24.
Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.23. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The firm had revenue of $203.70 million during the quarter, compared to analyst estimates of $190.62 million. During the same quarter in the previous year, the business earned $0.32 EPS. Columbus McKinnon Corporation’s revenue for the quarter was up 36.7% compared to the same quarter last year. Equities analysts forecast that Columbus McKinnon Corporation will post $1.90 EPS for the current fiscal year.
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In other Columbus McKinnon Corporation news, VP Kurt F. Wozniak sold 13,205 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $31.64, for a total transaction of $417,806.20. Following the completion of the sale, the vice president now directly owns 25,426 shares in the company, valued at approximately $804,478.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Timothy T. Tevens sold 45,172 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $32.76, for a total value of $1,479,834.72. Following the sale, the director now owns 293,536 shares of the company’s stock, valued at $9,616,239.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,932 shares of company stock valued at $5,416,512. 3.91% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of CMCO. Principal Financial Group Inc. purchased a new stake in Columbus McKinnon Corporation during the 1st quarter worth approximately $6,443,000. Dimensional Fund Advisors LP increased its stake in Columbus McKinnon Corporation by 13.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,264,809 shares of the industrial products company’s stock worth $31,393,000 after buying an additional 152,165 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in Columbus McKinnon Corporation by 188.5% during the 2nd quarter. Kennedy Capital Management Inc. now owns 226,151 shares of the industrial products company’s stock worth $5,749,000 after buying an additional 147,775 shares in the last quarter. Royal Bank of Canada increased its stake in Columbus McKinnon Corporation by 4.7% during the 2nd quarter. Royal Bank of Canada now owns 2,608,542 shares of the industrial products company’s stock worth $66,309,000 after buying an additional 118,139 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in Columbus McKinnon Corporation by 147.6% during the 1st quarter. Systematic Financial Management LP now owns 182,120 shares of the industrial products company’s stock worth $4,520,000 after buying an additional 108,570 shares in the last quarter. Institutional investors own 86.37% of the company’s stock.
Columbus McKinnon Corporation Company Profile
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