Columbus McKinnon (NASDAQ:CMCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “

Other research analysts have also issued research reports about the company. Craig Hallum set a $54.00 price objective on Columbus McKinnon and gave the stock a “buy” rating in a report on Tuesday, October 30th. Seaport Global Securities started coverage on Columbus McKinnon in a report on Wednesday, January 23rd. They set a “buy” rating and a $42.00 price objective for the company. ValuEngine raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BidaskClub raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.67.

Shares of NASDAQ CMCO opened at $34.92 on Friday. Columbus McKinnon has a 12 month low of $27.66 and a 12 month high of $45.85. The company has a quick ratio of 1.05, a current ratio of 1.85 and a debt-to-equity ratio of 0.66. The stock has a market cap of $845.12 million, a PE ratio of 17.37 and a beta of 1.76.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Thursday, January 31st. The industrial products company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Columbus McKinnon had a return on equity of 14.61% and a net margin of 3.58%. The company had revenue of $217.42 million during the quarter, compared to analyst estimates of $215.05 million. Sell-side analysts anticipate that Columbus McKinnon will post 2.72 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. FMR LLC bought a new stake in Columbus McKinnon in the 2nd quarter worth approximately $9,651,000. Millennium Management LLC lifted its position in Columbus McKinnon by 54.0% in the 2nd quarter. Millennium Management LLC now owns 255,723 shares of the industrial products company’s stock worth $11,088,000 after buying an additional 89,648 shares during the last quarter. Walthausen & Co. LLC bought a new stake in Columbus McKinnon in the 3rd quarter worth approximately $8,991,000. Renaissance Technologies LLC lifted its position in Columbus McKinnon by 23.4% in the 2nd quarter. Renaissance Technologies LLC now owns 242,085 shares of the industrial products company’s stock worth $10,497,000 after buying an additional 45,900 shares during the last quarter. Finally, Bailard Inc. bought a new stake in Columbus McKinnon in the 3rd quarter worth approximately $447,000. Institutional investors own 97.48% of the company’s stock.

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.

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