JPMorgan Chase & Co. Issues Positive Forecast for Columbus McKinnon (NASDAQ:CMCO) Stock Price

Columbus McKinnon (NASDAQ:CMCO) had its price objective increased by JPMorgan Chase & Co. from $29.00 to $30.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 64.09% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Columbus McKinnon in a research note on Thursday, October 29th. One equities 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 issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.50.

Columbus McKinnon Stock Up 0.7%

Columbus McKinnon stock traded up $0.13 during midday trading on Wednesday, hitting $18.28. 452,363 shares of the company were exchanged, compared to its average volume of 502,422. The company’s fifty day moving average price is $16.27 and its 200-day moving average price is $16.54. The company has a market cap of $527.65 million, a PE ratio of -2.44 and a beta of 1.49. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. Columbus McKinnon has a fifty-two week low of $11.99 and a fifty-two week high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%. The firm had revenue of $539.29 million during the quarter, compared to analysts’ expectations of $518.65 million. During the same quarter in the prior year, the business earned $0.62 EPS. Columbus McKinnon’s quarterly revenue was up 106.6% compared to the same quarter last year. On average, research analysts predict that Columbus McKinnon will post 2.00 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Christopher Stephens acquired 2,750 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $17.14 per share, with a total value of $47,135.00. Following the completion of the acquisition, the director directly owned 22,317 shares in the company, valued at $382,513.38. This represents a 14.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Columbus McKinnon in the second quarter worth $37,183,000. Stanley Capital Management LLC acquired a new position in Columbus McKinnon in the second quarter valued at approximately $12,936,000. Heartland Advisors Inc. grew its holdings in shares of Columbus McKinnon by 16.6% during the first quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company’s stock valued at $10,085,000 after purchasing an additional 98,950 shares during the last quarter. Van Den Berg Management I Inc. grew its holdings in shares of Columbus McKinnon by 11.8% during the second quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock valued at $8,089,000 after purchasing an additional 56,282 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Columbus McKinnon by 232.5% during the 1st quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock worth $5,366,000 after purchasing an additional 258,238 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Key Columbus McKinnon News

Here are the key news stories impacting Columbus McKinnon this week:

• Positive Sentiment: Management raised its FY2027 outlook for net sales, adjusted EBITDA and adjusted EPS. It said integration of the Kito Crosby acquisition remains on track, with synergies arriving ahead of plan, and that growth came from both legacy Columbus McKinnon and Kito Crosby businesses. Company guidance announcement
• Positive Sentiment: The company’s 1.0x book-to-bill ratio indicates orders are converting to revenue at a solid pace, which management said supports continued progress in the second half of the fiscal year. Company guidance announcement
• Neutral Sentiment: The more-than-doubling of sales was driven substantially by the Kito Crosby acquisition, so the headline growth rate should not be read as entirely organic. The company nevertheless reported growth in both businesses. Outlook and revenue article
• Neutral Sentiment: CMCO also crossed above its 200-day moving average, a technical signal that may attract attention but does not by itself establish a fundamental trend. 200-day moving average article

About Columbus McKinnon

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.