BidaskClub Downgrades Columbus McKinnon (CMCO) to Strong Sell

Columbus McKinnon (NASDAQ:CMCO) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on CMCO. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday, October 30th. ValuEngine downgraded Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Finally, Craig Hallum set a $54.00 price target on Columbus McKinnon and gave the company a “buy” rating in a research report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $47.00.

NASDAQ CMCO opened at $31.50 on Friday. Columbus McKinnon has a twelve month low of $29.70 and a twelve month high of $45.85. The company has a current ratio of 1.85, a quick ratio of 1.05 and a debt-to-equity ratio of 0.66. The stock has a market cap of $774.15 million, a price-to-earnings ratio of 15.67 and a beta of 1.73.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.08. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The business had revenue of $217.14 million for the quarter, compared to the consensus estimate of $218.91 million. During the same quarter last year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Columbus McKinnon will post 2.64 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in CMCO. Eqis Capital Management Inc. bought a new position in shares of Columbus McKinnon during the second quarter valued at about $204,000. LPL Financial LLC bought a new position in shares of Columbus McKinnon during the third quarter valued at about $222,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Columbus McKinnon during the second quarter valued at about $225,000. United Services Automobile Association bought a new position in shares of Columbus McKinnon during the second quarter valued at about $280,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Columbus McKinnon during the third quarter valued at about $332,000. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

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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