Columbus McKinnon Corp. (CMCO) Receives Average Recommendation of “Hold” from Brokerages

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Shares of Columbus McKinnon Corp. (NASDAQ:CMCO) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $52.00.

CMCO has been the subject of several research reports. Zacks Investment Research downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Craig Hallum set a $54.00 target price on Columbus McKinnon and gave the company a “buy” rating in a research note on Tuesday, October 30th. Finally, BidaskClub upgraded Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its stake in Columbus McKinnon by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 919,878 shares of the industrial products company’s stock valued at $36,371,000 after purchasing an additional 7,488 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Columbus McKinnon during the 3rd quarter worth approximately $3,090,000. Vanguard Group Inc. lifted its position in shares of Columbus McKinnon by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 919,878 shares of the industrial products company’s stock worth $36,371,000 after buying an additional 7,488 shares in the last quarter. Morgan Stanley lifted its position in shares of Columbus McKinnon by 2.6% during the 3rd quarter. Morgan Stanley now owns 88,921 shares of the industrial products company’s stock worth $3,516,000 after buying an additional 2,215 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Columbus McKinnon by 22.1% during the 3rd quarter. Nordea Investment Management AB now owns 119,767 shares of the industrial products company’s stock worth $4,736,000 after buying an additional 21,685 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Shares of CMCO traded up $0.50 during trading hours on Friday, hitting $32.85. The stock had a trading volume of 98,220 shares, compared to its average volume of 97,753. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.85 and a quick ratio of 1.05. The company has a market cap of $736.10 million, a PE ratio of 16.34 and a beta of 1.70. Columbus McKinnon has a 1-year low of $27.66 and a 1-year high of $45.85.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The company had revenue of $217.14 million during the quarter, compared to the consensus estimate of $218.91 million. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Analysts expect that Columbus McKinnon will post 2.64 EPS for the current fiscal year.

About Columbus McKinnon

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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