Columbus McKinnon Corp. (NASDAQ:CMCO) Receives $47.75 Consensus PT from Brokerages

Columbus McKinnon Corp. (NASDAQ:CMCO) has earned an average rating of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $47.75.

Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Wednesday, December 25th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Barrington Research assumed coverage on shares of Columbus McKinnon in a research note on Tuesday, December 17th. They set an “outperform” rating and a $50.00 price target for the company. ValuEngine upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, Dougherty & Co restated a “buy” rating on shares of Columbus McKinnon in a research note on Friday, November 8th.

In related news, VP Mark R. Paradowski sold 1,296 shares of Columbus McKinnon stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $39.83, for a total value of $51,619.68. Also, VP Kurt F. Wozniak sold 6,989 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $39.64, for a total transaction of $277,043.96. Following the completion of the transaction, the vice president now owns 37,896 shares of the company’s stock, valued at $1,502,197.44. The disclosure for this sale can be found here. Insiders sold a total of 18,503 shares of company stock valued at $738,459 over the last quarter. 2.39% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Alpha Windward LLC purchased a new position in Columbus McKinnon in the 3rd quarter valued at approximately $459,000. Eagle Asset Management Inc. grew its stake in Columbus McKinnon by 5.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 127,925 shares of the industrial products company’s stock valued at $4,660,000 after buying an additional 6,162 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Columbus McKinnon in the 3rd quarter valued at approximately $1,178,000. Synovus Financial Corp purchased a new position in Columbus McKinnon in the 3rd quarter valued at approximately $242,000. Finally, Convergence Investment Partners LLC purchased a new position in Columbus McKinnon in the 3rd quarter valued at approximately $146,000. Institutional investors and hedge funds own 98.97% of the company’s stock.

Shares of CMCO stock traded up $1.13 during trading hours on Wednesday, hitting $39.33. 198,635 shares of the company were exchanged, compared to its average volume of 129,910. The firm has a fifty day simple moving average of $39.71 and a 200 day simple moving average of $37.98. The company has a current ratio of 1.73, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. Columbus McKinnon has a 52-week low of $30.76 and a 52-week high of $43.09. The stock has a market capitalization of $931.11 million, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.37 and a beta of 1.74.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.05. Columbus McKinnon had a net margin of 6.34% and a return on equity of 15.40%. The company had revenue of $207.60 million during the quarter, compared to analyst estimates of $206.68 million. During the same quarter last year, the business posted $0.70 EPS. Columbus McKinnon’s quarterly revenue was down 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Columbus McKinnon will post 2.86 EPS for the current year.

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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Analyst Recommendations for Columbus McKinnon (NASDAQ:CMCO)

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