Columbus McKinnon Corporation (NASDAQ:CMCO) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts give Columbus McKinnon a consensus "Hold" rating from five firms (2 sell, 1 hold, 1 buy, 1 strong buy) with an average 1-year target of $23.50.
• The company slightly beat estimates this quarter (EPS $0.62 vs $0.61; revenue $258.7M vs $241.6M), with revenue up 10.5%, while the stock trades around $14.65 versus a 52-week high of $24.40 and a P/E of 69.8.
• Insider Jon Adams sold 5,185 shares at $23.28 (reducing his stake), insiders own 2.26% and institutions about 95.96% of the stock; the company pays a $0.07 quarterly dividend (1.9% yield) with a payout ratio of 133%.

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) have been given a consensus rating of "Hold" by the five ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $23.50.

CMCO has been the topic of several research reports. DA Davidson set a $20.00 target price on Columbus McKinnon in a research report on Thursday, February 12th. JPMorgan Chase & Co. dropped their price objective on Columbus McKinnon from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Zacks Research cut shares of Columbus McKinnon from a "hold" rating to a "strong sell" rating in a research note on Friday, February 13th. Wall Street Zen upgraded shares of Columbus McKinnon from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, CJS Securities raised shares of Columbus McKinnon to a "strong-buy" rating in a research note on Thursday, December 11th.

Insider Transactions at Columbus McKinnon

In related news, insider Jon Adams sold 5,185 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total transaction of $120,706.80. Following the completion of the transaction, the insider owned 9,366 shares of the company's stock, valued at approximately $218,040.48. The trade was a 35.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Columbus McKinnon

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Columbus McKinnon by 32.4% during the first quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company's stock valued at $2,091,000 after purchasing an additional 30,255 shares during the period. Goldman Sachs Group Inc. boosted its stake in Columbus McKinnon by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company's stock worth $3,739,000 after buying an additional 10,780 shares in the last quarter. Simplex Trading LLC increased its holdings in Columbus McKinnon by 782.2% in the 2nd quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company's stock valued at $25,000 after buying an additional 1,932 shares during the period. Savant Capital LLC acquired a new position in shares of Columbus McKinnon in the 2nd quarter valued at $320,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Columbus McKinnon during the 2nd quarter worth about $1,480,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

CMCO stock opened at $14.65 on Friday. The firm has a 50 day simple moving average of $19.77 and a 200 day simple moving average of $17.16. Columbus McKinnon has a 52 week low of $11.78 and a 52 week high of $24.40. The stock has a market cap of $421.04 million, a P/E ratio of 69.76 and a beta of 1.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The firm had revenue of $258.66 million for the quarter, compared to analyst estimates of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. Research analysts anticipate that Columbus McKinnon will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Friday, February 13th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, February 13th. Columbus McKinnon's dividend payout ratio is currently 133.33%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.