Columbus McKinnon (NASDAQ:CMCO) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. TheStreet cut Columbus McKinnon from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. ValuEngine raised Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Roth Capital lifted their price objective on Columbus McKinnon from $41.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 15th. Finally, Seaport Global Securities reaffirmed a “buy” rating and set a $50.00 price objective on shares of Columbus McKinnon in a report on Wednesday, January 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.33.
Shares of CMCO stock opened at $37.79 on Friday. The firm has a market cap of $870.00, a P/E ratio of 28.63 and a beta of 1.85. Columbus McKinnon has a 1 year low of $23.19 and a 1 year high of $44.55. The company has a quick ratio of 1.06, a current ratio of 1.81 and a debt-to-equity ratio of 0.83.
Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.13. The firm had revenue of $208.73 million during the quarter, compared to analysts’ expectations of $201.08 million. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. Columbus McKinnon’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. research analysts predict that Columbus McKinnon will post 2 earnings per share for the current year.
In other news, VP Alan S. Korman sold 1,724 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $36.00, for a total value of $62,064.00. Following the completion of the transaction, the vice president now directly owns 16,593 shares of the company’s stock, valued at $597,348. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Alan S. Korman sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $37.39, for a total value of $74,780.00. The disclosure for this sale can be found here. Insiders own 3.91% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Columbus McKinnon in the fourth quarter worth $731,000. Phocas Financial Corp. acquired a new position in shares of Columbus McKinnon in the fourth quarter worth $5,710,000. MetLife Investment Advisors LLC acquired a new position in shares of Columbus McKinnon in the fourth quarter worth $403,000. Westwood Holdings Group Inc. acquired a new position in shares of Columbus McKinnon in the fourth quarter worth $7,271,000. Finally, Castleark Management LLC raised its holdings in shares of Columbus McKinnon by 11.3% in the fourth quarter. Castleark Management LLC now owns 228,432 shares of the industrial products company’s stock worth $9,133,000 after acquiring an additional 23,209 shares during the last quarter. 86.03% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This piece was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/23/columbus-mckinnon-cmco-rating-increased-to-sell-at-bidaskclub.html.
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 end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.
Receive News & Ratings for Columbus McKinnon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon and related companies with MarketBeat.com's FREE daily email newsletter.