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

Columbus McKinnon (NASDAQ:CMCO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other equities analysts have also weighed in on the company. DA Davidson cut their target price on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 15th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, JPMorgan Chase & Co. boosted their target price on Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.00.

Columbus McKinnon Stock Performance

CMCO stock opened at $16.16 on Tuesday. The firm has a 50 day moving average of $17.85 and a two-hundred day moving average of $15.82. Columbus McKinnon has a 12 month low of $11.99 and a 12 month high of $24.40. The company has a market capitalization of $466.38 million, a price-to-earnings ratio of -2.17 and a beta of 1.43. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. During the same quarter last year, the firm earned $0.50 EPS. Columbus McKinnon’s revenue for the quarter was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, equities analysts anticipate that Columbus McKinnon will post 2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Columbus McKinnon news, EVP John R. Linker acquired 7,500 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the purchase, the executive vice president owned 7,500 shares of the company’s stock, valued at approximately $147,525. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher J. Stephens acquired 2,750 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $17.14 per share, with a total value of $47,135.00. Following the transaction, the director directly owned 22,317 shares in the company, valued at $382,513.38. The trade was a 14.05% increase in their position. The SEC filing for this purchase provides additional information. 2.09% of the stock is owned by insiders.

Institutional Trading of Columbus McKinnon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMCO. Public Employees Retirement System of Ohio bought a new position in Columbus McKinnon during the second quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new stake in Columbus McKinnon during the 2nd quarter worth about $29,000. Legal & General Group Plc bought a new position in shares of Columbus McKinnon in the 2nd quarter worth about $44,000. Isthmus Partners LLC lifted its stake in shares of Columbus McKinnon by 3.4% in the 1st quarter. Isthmus Partners LLC now owns 124,049 shares of the industrial products company’s stock valued at $1,802,000 after purchasing an additional 4,063 shares during the period. Finally, State of Wyoming bought a new stake in shares of Columbus McKinnon during the 2nd quarter valued at about $66,000. 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 supplier of intelligent motion solutions used to move, lift, position and secure materials. The company serves industrial, commercial and infrastructure customers with equipment and systems intended to improve material handling, workplace safety and operational efficiency.

Its product portfolio includes electric and manual hoists, cranes and crane components, rigging equipment, actuators, motion-control systems, automated lifting solutions and related software and services.