Columbus McKinnon Corporation (CMCO) Given Average Rating of “Hold” by Brokerages

Columbus McKinnon Corporation (NASDAQ:CMCO) has received a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $33.67.

CMCO has been the topic of a number of recent research reports. ValuEngine upgraded shares of Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Roth Capital initiated coverage on shares of Columbus McKinnon Corporation in a report on Friday, July 28th. They issued a “buy” rating and a $33.00 target price on the stock. BidaskClub lowered shares of Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. TheStreet upgraded shares of Columbus McKinnon Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a report on Thursday, August 3rd.

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Columbus McKinnon Corporation (NASDAQ:CMCO) traded down 0.03% during trading on Wednesday, hitting $37.97. 35,935 shares of the stock traded hands. The company’s 50 day moving average price is $34.50 and its 200-day moving average price is $28.59. Columbus McKinnon Corporation has a 52-week low of $16.86 and a 52-week high of $38.64. The stock has a market cap of $859.07 million, a P/E ratio of 61.24 and a beta of 1.90.

Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.23. The firm had revenue of $203.70 million for the quarter, compared to analysts’ expectations of $190.62 million. Columbus McKinnon Corporation had a net margin of 2.06% and a return on equity of 10.30%. The firm’s revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Equities research analysts forecast that Columbus McKinnon Corporation will post $1.90 earnings per share for the current fiscal year.

In other Columbus McKinnon Corporation news, VP Alan S. Korman sold 2,500 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $32.93, for a total value of $82,325.00. Following the transaction, the vice president now directly owns 13,121 shares in the company, valued at approximately $432,074.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy T. Tevens sold 43,845 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $31.84, for a total transaction of $1,396,024.80. Following the completion of the transaction, the director now owns 293,536 shares in the company, valued at $9,346,186.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,932 shares of company stock worth $5,416,512. 3.91% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its holdings in shares of Columbus McKinnon Corporation by 1.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 91 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Columbus McKinnon Corporation by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,336 shares of the industrial products company’s stock worth $415,000 after acquiring an additional 414 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Columbus McKinnon Corporation by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 45,122 shares of the industrial products company’s stock worth $1,120,000 after acquiring an additional 538 shares during the period. American Century Companies Inc. lifted its holdings in shares of Columbus McKinnon Corporation by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 23,141 shares of the industrial products company’s stock worth $588,000 after acquiring an additional 612 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Columbus McKinnon Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 795 shares during the period. Institutional investors own 86.37% of the company’s stock.

About Columbus McKinnon Corporation

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