Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Columbus McKinnon Corporation (NASDAQ:CMCO) has earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.00.

A number of equities analysts have weighed in on the company. Zacks Research upgraded Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. DA Davidson lowered their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. Finally, Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st.

Columbus McKinnon Stock Up 3.0%

CMCO opened at $17.74 on Friday. The company has a fifty day moving average price of $17.20 and a 200-day moving average price of $15.93. The firm has a market capitalization of $512.05 million, a P/E ratio of -2.38 and a beta of 1.36. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. Columbus McKinnon has a one year low of $11.99 and a one year high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The company had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm’s revenue was up 125.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Equities research analysts expect that Columbus McKinnon will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.6%. Columbus McKinnon’s payout ratio is -3.75%.

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 2,750 shares of Columbus McKinnon stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the completion of the transaction, the director directly owned 22,317 shares of the company’s stock, valued at approximately $382,513.38. The trade was a 14.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John R. Linker bought 7,500 shares of Columbus McKinnon stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the acquisition, the executive vice president owned 7,500 shares in the company, valued at $147,525. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. 2.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at about $37,183,000. Vanguard Group Inc. grew its position in Columbus McKinnon by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock worth $26,873,000 after acquiring an additional 62,267 shares during the last quarter. Invesco Ltd. increased its stake in Columbus McKinnon by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company’s stock worth $25,135,000 after purchasing an additional 5,210 shares during the period. AQR Capital Management LLC increased its stake in Columbus McKinnon by 76.8% in the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after purchasing an additional 481,470 shares during the period. Finally, Stanley Capital Management LLC bought a new stake in Columbus McKinnon in the second quarter valued at approximately $12,936,000. 95.96% of the stock is owned by institutional investors.

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.