Columbus McKinnon Corp. (NASDAQ:CMCO) Given Consensus Rating of “Hold” by Analysts

Columbus McKinnon Corp. (NASDAQ:CMCO) has been assigned a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $46.67.

Several analysts have weighed in on the company. Zacks Investment Research raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. BidaskClub raised Columbus McKinnon from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 11th. Finally, ValuEngine raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd.

In other Columbus McKinnon news, VP Peter M. Mccormick sold 5,990 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $36.63, for a total value of $219,413.70. Following the sale, the vice president now owns 75,040 shares of the company’s stock, valued at approximately $2,748,715.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Peter M. Mccormick sold 11,415 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $38.75, for a total value of $442,331.25. Following the completion of the sale, the vice president now directly owns 67,050 shares in the company, valued at approximately $2,598,187.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,847 shares of company stock worth $1,417,153. Insiders own 2.39% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC purchased a new position in shares of Columbus McKinnon during the 1st quarter valued at about $56,000. Acadian Asset Management LLC raised its position in Columbus McKinnon by 219.6% during the fourth quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,298 shares during the period. Legal & General Group Plc raised its position in Columbus McKinnon by 14.5% during the fourth quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 541 shares during the period. Marshall Wace North America L.P. purchased a new stake in Columbus McKinnon during the first quarter valued at approximately $156,000. Finally, BNP Paribas Arbitrage SA raised its position in Columbus McKinnon by 1,596.7% during the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 4,375 shares during the period. 99.49% of the stock is currently owned by institutional investors.

Shares of CMCO stock opened at $41.97 on Friday. The firm has a 50 day moving average of $37.40. Columbus McKinnon has a one year low of $27.66 and a one year high of $45.85. The company has a market capitalization of $952.84 million, a PE ratio of 15.32 and a beta of 1.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 1.02.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, May 28th. The industrial products company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.11. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. The business had revenue of $216.70 million for the quarter, compared to analysts’ expectations of $210.59 million. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Columbus McKinnon will post 3 earnings per share for the current 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.

Read More: Diluted Earnings Per Share

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