Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have received an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.00.

Several equities analysts have recently issued reports on the company. Zacks Research upgraded Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. DA Davidson lowered their target price 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st.

Insider Buying and Selling

In other news, EVP John R. Linker bought 7,500 shares of the business’s stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president directly owned 7,500 shares of the company’s stock, valued at approximately $147,525. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds have recently made changes to their positions in CMCO. Sei Investments Co. boosted its holdings in Columbus McKinnon by 89.5% during the first quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company’s stock worth $2,717,000 after buying an additional 88,285 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Columbus McKinnon during the 4th quarter valued at $2,465,000. Bernzott Capital Advisors lifted its position in shares of Columbus McKinnon by 83.0% during the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company’s stock valued at $9,329,000 after acquiring an additional 245,222 shares during the last quarter. Heartland Advisors Inc. boosted its stake in shares of Columbus McKinnon by 16.6% during the 1st quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company’s stock worth $10,085,000 after acquiring an additional 98,950 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Columbus McKinnon by 232.5% in the 1st quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock worth $5,366,000 after acquiring an additional 258,238 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Stock Up 1.2%

CMCO stock opened at $19.55 on Wednesday. The stock has a market cap of $564.21 million, a PE ratio of -2.62 and a beta of 1.37. The firm’s 50-day simple moving average is $15.31 and its 200 day simple moving average is $16.36. Columbus McKinnon has a fifty-two week low of $11.99 and a fifty-two week high of $24.40. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The firm had revenue of $531.46 million during the quarter, compared to analyst estimates of $501.27 million. During the same period in the previous year, the business posted $0.50 EPS. Columbus McKinnon’s revenue was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, sell-side analysts predict that Columbus McKinnon will post 2.05 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently -3.75%.

Columbus McKinnon Company Profile

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.