Columbus McKinnon (NASDAQ:CMCO) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a sell rating to a hold rating in a research note issued to investors on Monday, BidAskClub reports.

Several other research analysts have also recently issued reports on CMCO. TheStreet cut shares of Columbus McKinnon from a b- rating to a c+ rating in a report on Wednesday, March 18th. Craig Hallum cut their target price on shares of Columbus McKinnon from $48.00 to $36.00 and set a buy rating for the company in a research note on Wednesday, April 15th. Sidoti lowered shares of Columbus McKinnon from a buy rating to a neutral rating in a research note on Thursday, April 30th. Barrington Research reissued a buy rating and set a $34.00 target price on shares of Columbus McKinnon in a research note on Wednesday, May 27th. Finally, CJS Securities lowered shares of Columbus McKinnon from an outperform rating to a market perform rating in a research note on Tuesday, March 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $38.80.

Columbus McKinnon stock opened at $32.43 on Monday. The firm has a 50 day simple moving average of $29.79 and a 200-day simple moving average of $31.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.46 and a quick ratio of 1.64. The stock has a market capitalization of $776.17 million, a PE ratio of 11.76, a price-to-earnings-growth ratio of 3.26 and a beta of 1.61. Columbus McKinnon has a 12-month low of $19.20 and a 12-month high of $43.09.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Wednesday, May 27th. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.11. The business had revenue of $189.49 million during the quarter, compared to analysts’ expectations of $187.25 million. Columbus McKinnon had a net margin of 7.37% and a return on equity of 14.24%. On average, analysts forecast that Columbus McKinnon will post 0.83 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Granahan Investment Management Inc. MA lifted its position in shares of Columbus McKinnon by 1.3% in the 1st quarter. Granahan Investment Management Inc. MA now owns 532,655 shares of the industrial products company’s stock valued at $13,316,000 after acquiring an additional 6,595 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Columbus McKinnon by 24.7% in the 1st quarter. Synovus Financial Corp now owns 13,108 shares of the industrial products company’s stock valued at $329,000 after acquiring an additional 2,593 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Columbus McKinnon by 127.6% in the 1st quarter. SG Americas Securities LLC now owns 8,272 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 4,637 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Columbus McKinnon by 16.7% in the 1st quarter. Nuveen Asset Management LLC now owns 319,418 shares of the industrial products company’s stock valued at $7,986,000 after acquiring an additional 45,721 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Columbus McKinnon by 27.4% in the 1st quarter. First Trust Advisors LP now owns 35,165 shares of the industrial products company’s stock valued at $879,000 after acquiring an additional 7,558 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.

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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Analyst Recommendations for Columbus McKinnon (NASDAQ:CMCO)

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