Columbus McKinnon (CMCO) Rating Increased to Hold at ValuEngine

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Columbus McKinnon (NASDAQ:CMCO) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Roth Capital set a $44.00 price objective on shares of Columbus McKinnon and gave the company a “buy” rating in a report on Saturday, February 2nd. Zacks Investment Research lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Seaport Global Securities assumed coverage on shares of Columbus McKinnon in a report on Wednesday, January 23rd. They set a “buy” rating and a $42.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $44.50.

Columbus McKinnon stock opened at $37.48 on Wednesday. The company has a market capitalization of $850.17 million, a P/E ratio of 18.65 and a beta of 1.76. Columbus McKinnon has a 12-month low of $27.66 and a 12-month high of $45.85. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.61.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Thursday, January 31st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. The business had revenue of $217.42 million during the quarter, compared to analyst estimates of $215.05 million. Analysts forecast that Columbus McKinnon will post 2.63 EPS for the current year.

In other news, VP Alan S. Korman sold 5,168 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $37.90, for a total transaction of $195,867.20. Following the completion of the transaction, the vice president now directly owns 15,711 shares in the company, valued at approximately $595,446.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.27% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of Columbus McKinnon by 219.6% during the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,298 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Columbus McKinnon by 14.5% during the 4th quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 541 shares during the last quarter. Citigroup Inc. boosted its position in shares of Columbus McKinnon by 15.4% during the 4th quarter. Citigroup Inc. now owns 7,189 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 957 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Columbus McKinnon by 369.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,307 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 5,752 shares during the last quarter. Finally, LPL Financial LLC bought a new position in shares of Columbus McKinnon during the 3rd quarter valued at approximately $222,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Columbus McKinnon Company Profile

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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