Columbus McKinnon Corporation (NASDAQ:CMCO) Given Average Rating of “Hold” by Analysts

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have been given an average recommendation of “Hold” by the five research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $23.50.

Several equities analysts recently commented on the company. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. lowered their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. DA Davidson set a $20.00 price objective on Columbus McKinnon in a research note on Thursday, February 12th. Wall Street Zen raised Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Zacks Research downgraded shares of Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th.

Insiders Place Their Bets

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total transaction of $120,706.80. Following the sale, the insider directly owned 9,366 shares of the company’s stock, valued at approximately $218,040.48. This represents a 35.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.26% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

A number of institutional investors have recently modified their holdings of the stock. Simplex Trading LLC lifted its position in Columbus McKinnon by 782.2% during the 2nd quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 1,932 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of 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 worth $30,000 after buying an additional 565 shares during the last quarter. Group One Trading LLC lifted its holdings 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 valued at $32,000 after buying an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after buying an additional 1,000 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Columbus McKinnon by 267.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,893 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $14.65 on Friday. The firm has a market capitalization of $421.04 million, a PE ratio of 69.76 and a beta of 1.32. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. Columbus McKinnon has a 12-month low of $11.78 and a 12-month high of $24.40. The firm has a 50-day moving average price of $19.77 and a 200 day moving average price of $17.16.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The company had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same period in the previous year, the business earned $0.56 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Friday, February 13th were given a $0.07 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.28 dividend on an annualized basis and a yield of 1.9%. Columbus McKinnon’s payout ratio is 133.33%.

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.