BidaskClub Upgrades Columbus McKinnon (CMCO) to “Hold”

Columbus McKinnon (NASDAQ:CMCO) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday, April 4th, BidAskClub reports.

Several other equities analysts have also recently weighed in on the company. Seaport Global Securities initiated coverage on Columbus McKinnon in a research report on Wednesday, January 23rd. They issued a “buy” rating and a $42.00 price target for the company. Roth Capital set a $44.00 price target on Columbus McKinnon and gave the company a “buy” rating in a research report on Saturday, February 2nd. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Finally, Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, January 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $44.50.

Columbus McKinnon stock traded down $0.15 during mid-day trading on Thursday, reaching $39.02. 58,411 shares of the company’s stock were exchanged, compared to its average volume of 99,665. The firm has a market capitalization of $933.49 million, a P/E ratio of 19.41 and a beta of 1.76. Columbus McKinnon has a one year low of $27.66 and a one year high of $45.85. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Thursday, January 31st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm had revenue of $217.42 million for the quarter, compared to analyst estimates of $215.05 million. Columbus McKinnon had a return on equity of 14.55% and a net margin of 3.58%. Analysts predict that Columbus McKinnon will post 2.63 EPS for the current fiscal year.

In related news, VP Alan S. Korman sold 5,168 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $37.90, for a total value of $195,867.20. Following the sale, the vice president now owns 15,711 shares in the company, valued at approximately $595,446.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.27% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in Columbus McKinnon by 1,596.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 4,375 shares during the period. Brinker Capital Inc. raised its holdings in Columbus McKinnon by 58.0% during the first quarter. Brinker Capital Inc. now owns 19,642 shares of the industrial products company’s stock valued at $675,000 after acquiring an additional 7,210 shares during the period. Geode Capital Management LLC raised its holdings in Columbus McKinnon by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 245,917 shares of the industrial products company’s stock valued at $7,411,000 after acquiring an additional 17,099 shares during the period. FMR LLC grew its position in shares of Columbus McKinnon by 14.7% during the fourth quarter. FMR LLC now owns 468,500 shares of the industrial products company’s stock valued at $14,121,000 after purchasing an additional 60,171 shares in the last quarter. Finally, Walthausen & Co. LLC grew its position in shares of Columbus McKinnon by 6.8% during the fourth quarter. Walthausen & Co. LLC now owns 242,881 shares of the industrial products company’s stock valued at $7,320,000 after purchasing an additional 15,480 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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