Columbus McKinnon Corporation (NASDAQ:CMCO) Stock Has Consensus Target Price of $23.00

Columbus McKinnon Corporation (NASDAQ:CMCO) has earned a consensus rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $23.00.

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Columbus McKinnon in a report on Thursday. Finally, Zacks Research cut shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th.

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher Stephens bought 2,750 shares of Columbus McKinnon stock in a transaction dated Thursday, August 20th. The stock was bought at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the purchase, the director owned 22,317 shares of the company’s stock, valued at $382,513.38. The trade was a 14.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

A number of hedge funds have recently bought and sold shares of CMCO. Integrated Wealth Concepts LLC bought a new stake in shares of Columbus McKinnon during the 2nd quarter worth $29,000. Squarepoint Ops LLC bought a new position in Columbus McKinnon during the second quarter worth $1,225,000. Readystate Asset Management LP bought a new stake in Columbus McKinnon during the second quarter valued at $675,000. Van Den Berg Management I Inc. boosted its position in shares of Columbus McKinnon by 11.8% during the 2nd quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock valued at $8,089,000 after purchasing an additional 56,282 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Columbus McKinnon by 18.2% during the 2nd quarter. Hsbc Holdings PLC now owns 53,933 shares of the industrial products company’s stock worth $797,000 after buying an additional 8,292 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Price Performance

NASDAQ:CMCO opened at $14.97 on Monday. The company has a market capitalization of $432.03 million, a P/E ratio of -2.01 and a beta of 1.49. 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 has a 52 week low of $11.99 and a 52 week high of $24.40. The stock’s fifty day moving average is $16.30 and its two-hundred day moving average is $16.57.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping 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 company had revenue of $531.46 million for the quarter, compared to analysts’ expectations of $501.27 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 125.3% on a year-over-year basis. Equities analysts expect that Columbus McKinnon will post 2.00 EPS for the current year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, November 6th. Columbus McKinnon’s dividend payout ratio is -3.75%.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.