Columbus McKinnon Corporation (NASDAQ:CMCO) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Columbus McKinnon has a consensus analyst rating of “Hold” from five covering firms, with an average 12-month price target of $22.00.
• The company’s latest quarterly results missed EPS estimates, reporting $0.24 per share versus the expected $0.36, even though revenue of $437.83 million came in above estimates.
• Several analysts recently turned more cautious on the stock, including downgrades to Hold/Neutral and a reduced price target from DA Davidson to $17.00.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) has been given a consensus recommendation of "Hold" by the five ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.00.

A number of research analysts recently issued reports on CMCO shares. Wall Street Zen lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Zacks Research downgraded Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. DA Davidson reduced their price target on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, June 15th. Finally, Weiss Ratings cut Columbus McKinnon from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 29th.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $14.36 on Friday. The firm has a market cap of $414.00 million, a PE ratio of -2.62 and a beta of 1.39. Columbus McKinnon has a 52-week low of $11.99 and a 52-week high of $24.40. The company has a quick ratio of 0.98, a current ratio of 2.02 and a debt-to-equity ratio of 3.38. The company's 50 day moving average is $14.33 and its two-hundred day moving average is $16.53.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.The business had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.56 million. During the same quarter last year, the firm earned $0.60 EPS. The business's revenue was up 77.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, research analysts expect that Columbus McKinnon will post 1.73 EPS for the current fiscal year.

Institutional Trading of Columbus McKinnon

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Columbus McKinnon by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company's stock worth $26,873,000 after acquiring an additional 62,267 shares in the last quarter. Invesco Ltd. raised its holdings 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 purchasing an additional 5,210 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Columbus McKinnon by 76.8% during the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company's stock worth $19,121,000 after purchasing an additional 481,470 shares during the last quarter. Millennium Management LLC lifted its position in shares of Columbus McKinnon by 80.3% during the 3rd 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 grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds 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.

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