Columbus McKinnon (NASDAQ:CMCO) Rating Lowered to Sell at BidaskClub

Columbus McKinnon (NASDAQ:CMCO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, BidAskClub reports.

Several other equities research analysts have also issued reports on the company. ValuEngine raised Yelp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Columbus McKinnon presently has an average rating of “Hold” and a consensus target price of $44.50.

Shares of Columbus McKinnon stock opened at $40.37 on Friday. Columbus McKinnon has a 1 year low of $27.66 and a 1 year high of $44.01. The stock has a market cap of $946.23 million, a price-to-earnings ratio of 14.73 and a beta of 1.80. The company’s fifty day simple moving average is $38.95. The company has a current ratio of 1.72, a quick ratio of 1.02 and a debt-to-equity ratio of 0.55.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, May 28th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.11. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. The firm had revenue of $216.70 million during the quarter, compared to analyst estimates of $210.59 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Columbus McKinnon will post 3 EPS for the current fiscal year.

In related news, CFO Gregory P. Rustowicz sold 11,942 shares of Columbus McKinnon stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $38.92, for a total value of $464,782.64. Following the completion of the sale, the chief financial officer now owns 63,100 shares of the company’s stock, valued at approximately $2,455,852. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Peter M. Mccormick sold 5,990 shares of Columbus McKinnon stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $36.63, for a total value of $219,413.70. Following the completion of the sale, the vice president now directly owns 75,040 shares of the company’s stock, valued at approximately $2,748,715.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,847 shares of company stock valued at $1,417,153. Insiders own 2.39% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantamental Technologies LLC purchased a new stake in Columbus McKinnon in the 1st quarter worth about $56,000. Acadian Asset Management LLC increased its holdings in Columbus McKinnon by 219.6% in the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 1,298 shares during the last quarter. Legal & General Group Plc increased its holdings in Columbus McKinnon by 14.5% in the 4th quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 541 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Columbus McKinnon in the 1st quarter worth about $156,000. Finally, BNP Paribas Arbitrage SA increased 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 acquiring an additional 4,375 shares during the last quarter. 99.49% of the stock is owned by institutional investors.

About Columbus McKinnon

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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