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

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.00.

A number of research firms have commented on CMCO. DA Davidson cut their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a report 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, Weiss Ratings cut Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st.

Insider Transactions at Columbus McKinnon

In other news, EVP John R. Linker acquired 7,500 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $19.67 per share, with a total value of $147,525.00. Following the transaction, the executive vice president directly owned 7,500 shares in the company, valued at approximately $147,525. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher J. Stephens acquired 2,750 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average price of $17.14 per share, with a total value of $47,135.00. Following the purchase, the director owned 22,317 shares in the company, valued at $382,513.38. This represents a 14.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.09% of the company’s stock.

Hedge Funds Weigh In On Columbus McKinnon

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Columbus McKinnon during the 2nd quarter valued at $37,183,000. Stanley Capital Management LLC acquired a new position in Columbus McKinnon during the 2nd quarter valued at about $12,936,000. Marshall Wace LLP raised its stake in Columbus McKinnon by 698.6% in the third quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after buying an additional 635,770 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in Columbus McKinnon in the second quarter valued at about $8,242,000. Finally, AQR Capital Management LLC boosted its holdings in Columbus McKinnon by 76.8% in the fourth quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after acquiring an additional 481,470 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Trading Up 3.2%

Shares of NASDAQ CMCO opened at $18.84 on Friday. Columbus McKinnon has a twelve month low of $11.99 and a twelve month high of $24.40. The firm has a market cap of $543.72 million, a PE ratio of -2.53 and a beta of 1.36. The business has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $15.98. 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 posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The business had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The business’s revenue was up 125.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Analysts expect that Columbus McKinnon will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Columbus McKinnon’s dividend payout ratio (DPR) is presently -3.75%.

About Columbus McKinnon

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.