Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Rating of “Hold” by Brokerages

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have been given an average recommendation of “Hold” by the five analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $22.00.

Several equities analysts have commented on the stock. DA Davidson dropped their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Zacks Research downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th.

Columbus McKinnon Trading Down 2.7%

CMCO opened at $14.36 on Friday. Columbus McKinnon has a one year low of $11.99 and a one year high of $24.40. The company has a market cap of $414.00 million, a P/E ratio of -2.62 and a beta of 1.39. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.98 and a current ratio of 2.02. The business’s 50-day simple moving average is $14.33 and its 200-day simple moving average is $16.53.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). The business had revenue of $437.83 million for the quarter, compared to analyst estimates of $419.56 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.Columbus McKinnon’s revenue was up 77.3% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, equities research analysts expect that Columbus McKinnon will post 1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Columbus McKinnon

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Columbus McKinnon by 48.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 565 shares during the last quarter. Group One Trading LLC lifted its holdings in shares of Columbus McKinnon by 266.7% in the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 1,000 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 1,893 shares during the period. Finally, Royal Bank of Canada grew its stake in Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after buying an additional 918 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.