Columbus McKinnon Corporation (NASDAQ:CMCO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “

Other equities analysts have also issued research reports about the company. TheStreet raised Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Roth Capital initiated coverage on Columbus McKinnon Corporation in a research note on Friday, July 28th. They issued a “buy” rating and a $33.00 price objective on the stock. ValuEngine raised Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub raised Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $34.50.

Columbus McKinnon Corporation (NASDAQ:CMCO) opened at 38.31 on Tuesday. Columbus McKinnon Corporation has a one year low of $16.86 and a one year high of $38.64. The stock’s 50 day moving average price is $33.69 and its 200-day moving average price is $28.17. The firm has a market capitalization of $866.76 million, a price-to-earnings ratio of 58.05 and a beta of 1.90.

Columbus McKinnon Corporation (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.23. The company had revenue of $203.70 million for the quarter, compared to analyst estimates of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The business’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts anticipate that Columbus McKinnon Corporation will post $1.90 earnings per share for the current fiscal year.

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In other news, VP Alan S. Korman sold 2,500 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $32.93, for a total transaction of $82,325.00. Following the transaction, the vice president now owns 13,121 shares of the company’s stock, valued at $432,074.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gene P. Buer sold 10,669 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $31.66, for a total value of $337,780.54. The disclosure for this sale can be found here. Insiders have sold 167,932 shares of company stock worth $5,416,512 in the last ninety days. 3.91% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CMCO. Envestnet Asset Management Inc. lifted its stake in shares of Columbus McKinnon Corporation by 1.5% during the first quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 91 shares during the period. Laurion Capital Management LP acquired a new position in shares of Columbus McKinnon Corporation during the second quarter valued at $202,000. Trexquant Investment LP lifted its stake in shares of Columbus McKinnon Corporation by 42.9% during the first quarter. Trexquant Investment LP now owns 11,164 shares of the industrial products company’s stock valued at $277,000 after acquiring an additional 3,352 shares during the period. American International Group Inc. lifted its stake in shares of Columbus McKinnon Corporation by 7.1% during the first quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 795 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of Columbus McKinnon Corporation by 10.8% during the second quarter. Voya Investment Management LLC now owns 12,389 shares of the industrial products company’s stock valued at $315,000 after acquiring an additional 1,208 shares during the period. 86.37% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Corporation Company Profile

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