Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Average Recommendation of “Moderate Buy” from Analysts

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

A number of brokerages have commented on CMCO. JPMorgan Chase & Co. upped their target price on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. DA Davidson dropped their price objective on 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 Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th.

Insider Activity at Columbus McKinnon

In related news, EVP John R. Linker acquired 7,500 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the acquisition, the executive vice president directly owned 7,500 shares in the company, valued at $147,525. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Stephens purchased 2,750 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the purchase, the director owned 22,317 shares in the company, valued at approximately $382,513.38. The trade was a 14.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in Columbus McKinnon during the 2nd quarter worth about $29,000. Squarepoint Ops LLC purchased a new stake in shares of Columbus McKinnon in the second quarter worth about $1,225,000. Readystate Asset Management LP purchased a new stake in shares of Columbus McKinnon in the second quarter worth about $675,000. Van Den Berg Management I Inc. grew its holdings in Columbus McKinnon by 11.8% during the second quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock worth $8,089,000 after acquiring an additional 56,282 shares during the period. Finally, Hsbc Holdings PLC raised its position in Columbus McKinnon by 18.2% during the second quarter. Hsbc Holdings PLC now owns 53,933 shares of the industrial products company’s stock valued at $797,000 after acquiring an additional 8,292 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $15.93 on Thursday. Columbus McKinnon has a 12-month low of $11.99 and a 12-month high of $24.40. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The firm has a 50-day moving average price of $17.78 and a 200-day moving average price of $15.75. The firm has a market capitalization of $459.80 million, a PE ratio of -2.14 and a beta of 1.36.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.34. The business had revenue of $531.46 million during the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The business’s revenue for the quarter was up 125.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, equities research analysts forecast that Columbus McKinnon will post 2 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. Columbus McKinnon’s dividend payout ratio (DPR) is currently -3.75%.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is an industrial technology company that designs, manufactures and distributes products and systems used to move, lift, position and control materials. Its solutions support material handling, automation and motion-control applications across a range of industrial and commercial markets.

The company’s product portfolio includes electric and manual hoists, cranes and crane components, lifting equipment, actuators, gear reducers, conveyors, precision positioning systems and related controls.