Columbus McKinnon (NASDAQ:CMCO) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a strong-buy rating to a buy rating in a research report report published on Friday.

A number of other equities analysts have also recently commented on CMCO. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “sell (d)” rating on shares of Columbus McKinnon in a report on Wednesday, October 8th. Finally, DA Davidson set a $15.00 target price on shares of Columbus McKinnon in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $20.96 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.81. The company has a market capitalization of $602.18 million, a price-to-earnings ratio of 149.72 and a beta of 1.29. The company’s 50 day simple moving average is $17.79 and its 200-day simple moving average is $16.04. Columbus McKinnon has a 1 year low of $11.78 and a 1 year high of $37.76.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, October 30th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. Columbus McKinnon had a net margin of 0.41% and a return on equity of 7.33%. The firm had revenue of $261.05 million during the quarter, compared to the consensus estimate of $240.63 million. During the same quarter last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts expect that Columbus McKinnon will post 2.69 earnings per share for the current year.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors have recently modified their holdings of the company. Marshall Wace LLP increased its holdings in Columbus McKinnon by 698.6% in the third quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after buying an additional 635,770 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Columbus McKinnon in the 3rd quarter valued at about $8,040,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of Columbus McKinnon by 100.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock worth $11,900,000 after acquiring an additional 415,275 shares in the last quarter. Millennium Management LLC lifted its stake in Columbus McKinnon by 80.3% during the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after purchasing an additional 379,096 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Columbus McKinnon by 286.0% in the second quarter. AQR Capital Management LLC now owns 476,656 shares of the industrial products company’s stock valued at $7,279,000 after purchasing an additional 353,158 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

About Columbus McKinnon

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.