Columbus McKinnon Corporation (NASDAQ:CMCO) Stock Has Average Price Target of $23.00 According to Brokerages

Columbus McKinnon Corporation (NASDAQ:CMCO) has received an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.00.

A number of brokerages have commented on CMCO. Zacks Research cut Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $13.52 on Monday. The company has a market capitalization of $390.19 million, a PE ratio of -1.81 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 has a 52-week low of $11.99 and a 52-week high of $24.40. The stock has a fifty day simple moving average of $16.63 and a 200-day simple moving average of $15.88.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $501.27 million. During the same period in the prior year, the business earned $0.50 earnings per share. The company’s quarterly revenue was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities research analysts expect that Columbus McKinnon will post 2.00 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Columbus McKinnon

Large investors have recently modified their holdings of the company. Sei Investments Co. lifted its stake in shares of Columbus McKinnon by 89.5% during the first quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company’s stock worth $2,717,000 after purchasing an additional 88,285 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Columbus McKinnon in the second quarter worth about $37,183,000. Bank of America Corp DE purchased a new stake in shares of Columbus McKinnon in the second quarter worth about $1,205,000. Stanley Capital Management LLC acquired a new stake in shares of Columbus McKinnon in the second quarter valued at about $12,936,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Columbus McKinnon in the second quarter valued at about $1,158,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.