Columbus McKinnon (CMCO) Rating Increased to Sell at BidaskClub

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.

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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.

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