Columbus McKinnon’s (CMCO) “Neutral” Rating Reiterated at DA Davidson

Columbus McKinnon (NASDAQ:CMCOGet Free Report)‘s stock had its “neutral” rating reaffirmed by analysts at DA Davidson in a research note issued on Friday,Benzinga reports. They presently have a $20.00 target price on the industrial products company’s stock. DA Davidson’s price objective indicates a potential upside of 44.10% from the company’s previous close.

Several other research analysts also recently commented on the company. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. dropped their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Columbus McKinnon has an average rating of “Hold” and an average price target of $23.50.

Check Out Our Latest Research Report on CMCO

Columbus McKinnon Stock Performance

NASDAQ CMCO traded down $0.20 during trading on Friday, hitting $13.88. The company’s stock had a trading volume of 233,397 shares, compared to its average volume of 430,759. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average price of $15.16 and a 200 day moving average price of $17.15. The firm has a market cap of $398.88 million, a P/E ratio of 66.31 and a beta of 1.38. Columbus McKinnon has a 52 week low of $13.01 and a 52 week high of $24.40.

Columbus McKinnon (NASDAQ:CMCOGet Free Report) last issued 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). The business had revenue of $437.83 million during the quarter, compared to the consensus estimate of $419.57 million. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The business’s quarterly revenue was up 77.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Equities research analysts forecast that Columbus McKinnon will post 1.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Columbus McKinnon

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position 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 valued at $30,000 after acquiring an additional 565 shares during the period. Group One Trading LLC grew its position 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 valued at $32,000 after acquiring an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB grew its position 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 valued at $36,000 after acquiring an additional 1,000 shares during the period. Tower Research Capital LLC TRC grew its position 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 valued at $40,000 after acquiring an additional 1,893 shares during the period. Finally, Royal Bank of Canada grew its position in Columbus McKinnon by 41.4% in 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 owned by institutional investors.

Key Stories Impacting Columbus McKinnon

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About Columbus McKinnon

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Columbus McKinnon (NASDAQ:CMCO)

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