Zacks Research Downgrades Columbus McKinnon (NASDAQ:CMCO) to Hold

Columbus McKinnon (NASDAQ:CMCO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Columbus McKinnon in a research note on Tuesday, April 14th. DA Davidson set a $20.00 price objective on Columbus McKinnon in a report on Thursday, February 12th. Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.50.

Columbus McKinnon Stock Down 2.9%

Columbus McKinnon stock opened at $15.02 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. The business’s 50-day simple moving average is $15.40 and its two-hundred day simple moving average is $17.22. The company has a market cap of $431.66 million, a PE ratio of 71.52 and a beta of 1.39. Columbus McKinnon has a fifty-two week low of $13.31 and a fifty-two week high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. Equities analysts anticipate that Columbus McKinnon will post 1.89 EPS for the current year.

Hedge Funds Weigh In On Columbus McKinnon

Several institutional investors and hedge funds have recently modified their holdings of the stock. SummerHaven Investment Management LLC acquired a new position in Columbus McKinnon in the 3rd quarter worth about $735,000. AlphaQuest LLC raised its holdings in Columbus McKinnon by 118.8% in the 3rd quarter. AlphaQuest LLC now owns 68,122 shares of the industrial products company’s stock worth $977,000 after purchasing an additional 36,986 shares during the period. Bernzott Capital Advisors raised its holdings in Columbus McKinnon by 83.0% in the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company’s stock worth $9,329,000 after purchasing an additional 245,222 shares during the period. SG Americas Securities LLC raised its holdings in Columbus McKinnon by 282.1% in the 3rd quarter. SG Americas Securities LLC now owns 34,531 shares of the industrial products company’s stock worth $495,000 after purchasing an additional 25,494 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in Columbus McKinnon in the 4th quarter worth about $2,465,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

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.