Columbus McKinnon (NASDAQ:CMCO) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Columbus McKinnon to “Hold” from “Strong Buy.” The stock has a consensus “Hold” rating and an average analyst price target of $23.
• Columbus McKinnon reported quarterly EPS of $0.61, beating estimates of $0.27, while revenue rose 125.3% year over year to $531.46 million.
• CMCO opened at $16.16, below its 50-day moving average of $17.85, and carries substantial leverage with a debt-to-equity ratio of 3.95. Insiders recently bought shares, while institutional investors own 95.96% of the stock.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks reports.

Several other brokerages have also weighed in on CMCO. Weiss Ratings lowered Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, July 31st. DA Davidson reduced their target price on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, June 15th. Wall Street Zen downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. One investment 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $23.00.

Columbus McKinnon Stock Performance

NASDAQ CMCO opened at $16.16 on Tuesday. The company's fifty day moving average is $17.85 and its two-hundred day moving average is $15.82. Columbus McKinnon has a 52-week low of $11.99 and a 52-week high of $24.40. 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 firm has a market capitalization of $466.38 million, a price-to-earnings ratio of -2.17 and a beta of 1.43.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share 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 during the quarter, compared to analysts' expectations of $501.27 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm's 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. Equities research analysts forecast that Columbus McKinnon will post 2 EPS for the current year.

Insider Activity

In other news, EVP John Linker acquired 7,500 shares of the company's stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $19.67 per share, with a total value of $147,525.00. Following the completion of the acquisition, the executive vice president owned 7,500 shares in the company, valued at approximately $147,525. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher Stephens bought 2,750 shares of the business's stock in a transaction dated 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 purchase, the director directly owned 22,317 shares of the company's stock, valued at $382,513.38. The trade was a 14.05% increase in their position. The SEC filing for this purchase provides additional information. 2.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Columbus McKinnon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new stake in Columbus McKinnon during the 2nd quarter worth about $25,000. Integrated Wealth Concepts LLC acquired a new position in shares of Columbus McKinnon during the second quarter worth approximately $29,000. Legal & General Group Plc acquired a new position in shares of Columbus McKinnon during the second quarter worth approximately $44,000. State of Wyoming bought a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $66,000. Finally, Strs Ohio increased its holdings in shares of Columbus McKinnon by 88.9% in the first quarter. Strs Ohio now owns 17,000 shares of the industrial products company's stock valued at $247,000 after purchasing an additional 8,000 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and supplier of intelligent motion solutions used to move, lift, position and secure materials. The company serves industrial, commercial and infrastructure customers with equipment and systems intended to improve material handling, workplace safety and operational efficiency.

Its product portfolio includes electric and manual hoists, cranes and crane components, rigging equipment, actuators, motion-control systems, automated lifting solutions and related software and services.

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