Columbus McKinnon (NASDAQ:CMCO) Stock Rating Upgraded by Zacks Research

Columbus McKinnon (NASDAQ:CMCO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on CMCO. Weiss Ratings cut Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. DA Davidson reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Columbus McKinnon in a research note on Friday, June 5th. JPMorgan Chase & Co. lowered their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Finally, Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 22nd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.50.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $13.36 on Wednesday. The stock has a market capitalization of $385.17 million, a P/E ratio of -2.44 and a beta of 1.38. Columbus McKinnon has a 1-year low of $11.99 and a 1-year high of $24.40. The company has a current ratio of 2.02, a quick ratio of 0.99 and a debt-to-equity ratio of 3.38. The business has a 50-day moving average price of $14.99 and a two-hundred day moving average price of $17.09.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The company had revenue of $437.83 million during the quarter, compared to the consensus estimate of $419.57 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The business’s revenue was up 77.3% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Equities analysts predict that Columbus McKinnon will post 1.7 earnings per share for the current year.

Hedge Funds Weigh In On Columbus McKinnon

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC boosted its position in Columbus McKinnon by 18.1% during the 4th quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 545 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Columbus McKinnon by 48.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 565 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Columbus McKinnon by 4.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 850 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Columbus McKinnon by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock worth $166,000 after acquiring an additional 852 shares during the last quarter. Finally, Royal Bank of Canada boosted its position 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 acquiring 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.