Columbus McKinnon Corp. (NASDAQ:CMCO) has been given an average recommendation of “Hold” by the six research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $52.00.

A number of brokerages have issued reports on CMCO. ValuEngine cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, September 28th. BidaskClub lowered shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, October 30th. Finally, Craig Hallum set a $54.00 price target on shares of Columbus McKinnon and gave the company a “buy” rating in a research report on Tuesday, October 30th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC purchased a new position in shares of Columbus McKinnon during the 2nd quarter valued at $9,651,000. Global X Management Co LLC grew its position in Columbus McKinnon by 19.0% in the second quarter. Global X Management Co LLC now owns 8,092 shares of the industrial products company’s stock worth $351,000 after acquiring an additional 1,292 shares in the last quarter. Citadel Advisors LLC grew its position in Columbus McKinnon by 274.7% in the second quarter. Citadel Advisors LLC now owns 34,738 shares of the industrial products company’s stock worth $1,507,000 after acquiring an additional 25,467 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Columbus McKinnon in the second quarter worth $225,000. Finally, Millennium Management LLC grew its position in Columbus McKinnon by 54.0% in the second quarter. Millennium Management LLC now owns 255,723 shares of the industrial products company’s stock worth $11,088,000 after acquiring an additional 89,648 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

CMCO stock traded up $0.50 during midday trading on Friday, reaching $32.85. 98,220 shares of the company’s stock traded hands, compared to its average volume of 97,753. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.85 and a quick ratio of 1.05. Columbus McKinnon has a 52 week low of $27.66 and a 52 week high of $45.85. The stock has a market capitalization of $736.10 million, a price-to-earnings ratio of 16.34 and a beta of 1.70.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Columbus McKinnon had a net margin of 2.49% and a return on equity of 13.88%. The business had revenue of $217.14 million for the quarter, compared to analysts’ expectations of $218.91 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Columbus McKinnon will post 2.64 EPS for the current year.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

Read More: Day Trading – Risk Worth the Reward?

Receive News & Ratings for Columbus McKinnon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon and related companies with MarketBeat.com's FREE daily email newsletter.