Columbus McKinnon (CMCO) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a strong sell rating to a sell rating in a research note published on Thursday.

CMCO has been the topic of several other reports. ValuEngine downgraded Columbus McKinnon from a hold rating to a sell rating in a report on Tuesday, October 23rd. Zacks Investment Research upgraded Columbus McKinnon from a hold rating to a buy rating and set a $46.00 target price for the company in a research report on Thursday, August 2nd. Finally, Craig Hallum set a $54.00 target price on Columbus McKinnon and gave the stock a buy rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $47.00.

CMCO stock traded up $0.69 during midday trading on Thursday, hitting $37.59. 147,523 shares of the company’s stock were exchanged, compared to its average volume of 145,552. The company has a quick ratio of 1.04, a current ratio of 1.84 and a debt-to-equity ratio of 0.72. Columbus McKinnon has a 12-month low of $29.70 and a 12-month high of $45.85. The company has a market capitalization of $818.25 million, a PE ratio of 18.70 and a beta of 1.85.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Columbus McKinnon had a return on equity of 14.08% and a net margin of 2.49%. The company had revenue of $217.14 million for the quarter, compared to the consensus estimate of $218.91 million. During the same period in the previous year, the business earned $0.51 EPS. Columbus McKinnon’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Columbus McKinnon will post 2.64 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be given a $0.05 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. Columbus McKinnon’s payout ratio is 9.95%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its position in shares of Columbus McKinnon by 4.9% in the 3rd quarter. Wells Fargo & Company MN now owns 34,020 shares of the industrial products company’s stock worth $1,346,000 after acquiring an additional 1,595 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Columbus McKinnon in the 3rd quarter worth approximately $1,397,000. Rice Hall James & Associates LLC grew its position in shares of Columbus McKinnon by 3.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 475,799 shares of the industrial products company’s stock worth $18,813,000 after acquiring an additional 16,268 shares in the last quarter. Northpointe Capital LLC acquired a new position in shares of Columbus McKinnon in the 3rd quarter worth approximately $3,205,000. Finally, Bank of Montreal Can grew its position in shares of Columbus McKinnon by 34.0% in the 3rd quarter. Bank of Montreal Can now owns 43,985 shares of the industrial products company’s stock worth $1,739,000 after acquiring an additional 11,149 shares in the last quarter. Institutional investors own 94.17% 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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