Columbus McKinnon Corporation (NASDAQ:CMCO) Receives $23.00 Average Target Price from Brokerages

Columbus McKinnon Corporation (NASDAQ:CMCO) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.00.

Several equities research analysts have weighed in on the stock. Weiss Ratings cut shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. DA Davidson decreased their price objective 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. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, July 31st.

Insider Activity

In other Columbus McKinnon news, EVP John R. Linker bought 7,500 shares of Columbus McKinnon stock in a transaction dated 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 completion of the purchase, the executive vice president owned 7,500 shares of the company’s stock, valued at approximately $147,525. This represents a ∞ 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. Company insiders own 2.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in Columbus McKinnon in the 2nd quarter worth $4,011,000. Public Employees Retirement System of Ohio bought a new stake in shares of Columbus McKinnon during the 2nd quarter valued at about $25,000. Palogic Value Management L.P. purchased a new position in shares of Columbus McKinnon during the second quarter valued at about $1,136,000. Bank of America Corp DE purchased a new position in shares of Columbus McKinnon during the second quarter valued at about $1,205,000. Finally, Odyssean LLC bought a new position in Columbus McKinnon in the second quarter worth about $1,105,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

CMCO opened at $17.80 on Wednesday. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $15.84 and its 200 day simple moving average is $16.29. The firm has a market cap of $513.71 million, a price-to-earnings ratio of -2.39 and a beta of 1.37. Columbus McKinnon has a 1 year low of $11.99 and a 1 year high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm had revenue of $531.46 million during the quarter, compared to analyst estimates of $501.27 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, analysts predict that Columbus McKinnon will post 2.05 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, August 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently -3.75%.

Columbus McKinnon Company Profile

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.