Zacks Investment Research upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a hold rating to a buy rating in a report released on Wednesday morning. The brokerage currently has $40.00 target price on the industrial products company’s stock.
According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “
A number of other research firms also recently weighed in on CMCO. Seaport Global Securities reissued a buy rating and issued a $50.00 price target on shares of Columbus McKinnon in a research note on Wednesday, January 10th. Roth Capital increased their price target on Columbus McKinnon from $41.00 to $50.00 and gave the company a buy rating in a research note on Monday, January 15th. BidaskClub downgraded Columbus McKinnon from a hold rating to a sell rating in a research note on Friday, January 19th. ValuEngine raised Columbus McKinnon from a hold rating to a buy rating in a research note on Friday, February 2nd. Finally, TheStreet downgraded Columbus McKinnon from a b rating to a c+ rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Columbus McKinnon presently has an average rating of Hold and an average price target of $46.67.
Columbus McKinnon (CMCO) opened at $36.01 on Wednesday. Columbus McKinnon has a 1-year low of $23.13 and a 1-year high of $44.55. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $829.02, a price-to-earnings ratio of 97.32 and a beta of 1.78.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.13. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. The firm had revenue of $208.73 million for the quarter, compared to the consensus estimate of $201.08 million. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. equities analysts expect that Columbus McKinnon will post 2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Thursday, February 8th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 43.24%.
In other news, VP Alan S. Korman sold 1,558 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $40.10, for a total value of $62,475.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 2,319 shares of company stock worth $91,835. 3.91% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CMCO. Allianz Asset Management GmbH increased its position in shares of Columbus McKinnon by 1,050.9% in the 4th quarter. Allianz Asset Management GmbH now owns 219,848 shares of the industrial products company’s stock valued at $8,790,000 after buying an additional 200,746 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Columbus McKinnon in the 4th quarter valued at $7,271,000. Phocas Financial Corp. bought a new stake in shares of Columbus McKinnon in the 4th quarter valued at $5,710,000. Macquarie Group Ltd. increased its position in shares of Columbus McKinnon by 14.6% in the 3rd quarter. Macquarie Group Ltd. now owns 974,628 shares of the industrial products company’s stock valued at $36,909,000 after buying an additional 124,442 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Columbus McKinnon by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,373,168 shares of the industrial products company’s stock valued at $34,906,000 after buying an additional 108,359 shares in the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.
About Columbus McKinnon
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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