Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Consensus Rating of “Hold” from Analysts
by Sarita Garza · The Markets DailyShares of Columbus McKinnon Corporation (NASDAQ:CMCO – Get Free Report) have been given an average rating of “Hold” by the five brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $23.50.
CMCO has been the subject of several recent research reports. Wall Street Zen cut shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Sunday. Zacks Research lowered shares of Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. CJS Securities raised shares of Columbus McKinnon to a “strong-buy” rating in a research report on Thursday, December 11th. DA Davidson set a $20.00 price objective on shares of Columbus McKinnon in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th.
Read Our Latest Report on Columbus McKinnon
Insider Buying and Selling at Columbus McKinnon
In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total transaction of $120,706.80. Following the transaction, the insider owned 9,366 shares of the company’s stock, valued at $218,040.48. The trade was a 35.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.26% of the stock is owned by company insiders.
Hedge Funds Weigh In On Columbus McKinnon
Several hedge funds and other institutional investors have recently made changes to their positions in CMCO. Signaturefd LLC raised its position in Columbus McKinnon by 18.1% during the fourth quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 545 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Columbus McKinnon by 48.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 565 shares during the last quarter. Access Investment Management LLC grew its position in shares of Columbus McKinnon by 0.9% in the 3rd quarter. Access Investment Management LLC now owns 82,950 shares of the industrial products company’s stock valued at $1,190,000 after acquiring an additional 735 shares during the period. Bridge City Capital LLC increased its stake in shares of Columbus McKinnon by 0.8% during the 2nd quarter. Bridge City Capital LLC now owns 97,866 shares of the industrial products company’s stock worth $1,494,000 after purchasing an additional 784 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its holdings in shares of Columbus McKinnon by 4.4% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock valued at $346,000 after purchasing an additional 850 shares during the period. 95.96% of the stock is owned by institutional investors.
Columbus McKinnon Stock Down 2.2%
Shares of Columbus McKinnon stock opened at $13.89 on Friday. The firm has a market cap of $399.20 million, a PE ratio of 66.14 and a beta of 1.32. The business’s 50 day simple moving average is $19.28 and its 200 day simple moving average is $17.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. Columbus McKinnon has a 52-week low of $11.78 and a 52-week high of $24.40.
Columbus McKinnon (NASDAQ:CMCO – Get Free Report) last released its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The firm had revenue of $258.66 million during the quarter, compared to the consensus estimate of $241.60 million. During the same quarter in the prior year, the firm posted $0.56 EPS. The business’s revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.
Columbus McKinnon Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Friday, February 13th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, February 13th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 133.33%.
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.