Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Columbus McKinnon Corporation (NASDAQ:CMCO) has received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $22.00.

CMCO has been the topic of several research analyst reports. Weiss Ratings cut shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, DA Davidson lowered their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 15th.

Hedge Funds Weigh In On Columbus McKinnon

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings 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 worth $30,000 after purchasing an additional 565 shares in the last quarter. Group One Trading LLC boosted its holdings in Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Columbus McKinnon by 267.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Columbus McKinnon by 41.4% during the fourth quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 918 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $14.55 on Tuesday. The company’s fifty day moving average is $14.99 and its two-hundred day moving average is $16.99. The company has a quick ratio of 0.98, a current ratio of 2.02 and a debt-to-equity ratio of 3.38. Columbus McKinnon has a 12-month low of $11.99 and a 12-month high of $24.40. The company has a market cap of $419.48 million, a P/E ratio of -2.66 and a beta of 1.38.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The company had revenue of $437.83 million for the quarter, compared to analysts’ expectations of $419.57 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue was up 77.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Equities analysts expect that Columbus McKinnon will post 1.73 earnings per share for the current fiscal year.

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.