Columbus McKinnon (NASDAQ:CMCO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Weiss Ratings cut Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. JPMorgan Chase & Co. lowered their target price on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. DA Davidson reiterated a “neutral” rating and issued a $20.00 price objective on shares of Columbus McKinnon in a research note on Friday, June 5th. Finally, Wall Street Zen cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock opened at $13.36 on Wednesday. The business has a 50-day moving average of $14.99 and a 200 day moving average of $17.09. Columbus McKinnon has a 12 month low of $11.99 and a 12 month high of $24.40. The stock has a market capitalization of $385.17 million, a price-to-earnings ratio of -2.44 and a beta of 1.38. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.99.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The firm had revenue of $437.83 million for the quarter, compared to analysts’ expectations of $419.57 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue was up 77.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, sell-side analysts forecast that Columbus McKinnon will post 1.7 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, May 1st. Columbus McKinnon’s dividend payout ratio (DPR) is presently -5.11%.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Columbus McKinnon by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock valued at $26,873,000 after buying an additional 62,267 shares during the period. Invesco Ltd. boosted its stake in shares of Columbus McKinnon by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company’s stock valued at $25,135,000 after buying an additional 5,210 shares during the period. AQR Capital Management LLC boosted its stake in shares of Columbus McKinnon by 76.8% in the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock valued at $19,121,000 after buying an additional 481,470 shares during the period. Millennium Management LLC lifted its stake in Columbus McKinnon by 80.3% during the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after purchasing an additional 379,096 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Columbus McKinnon by 100.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock worth $11,900,000 after purchasing an additional 415,275 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

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.