Columbus McKinnon (NASDAQ:CMCO) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Columbus McKinnon (NASDAQ:CMCO) from strong-buy to hold, adding to a cautious analyst backdrop. The stock’s overall consensus rating is now Hold with an average price target of $22.00.
• CMCO shares fell 1.7% and opened at $13.24, near the lower end of its 52-week range of $11.99 to $24.40. The company also has a market cap of about $381.7 million and is trading below its 50-day and 200-day moving averages.
• In its latest quarter, Columbus McKinnon missed EPS estimates with earnings of $0.24 versus $0.36 expected, though revenue came in above forecasts at $437.83 million. The company also guided FY2027 EPS to 1.700–1.900.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. DA Davidson cut their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, June 15th. Wall Street Zen downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Finally, Weiss Ratings cut Columbus McKinnon from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.00.

Columbus McKinnon Trading Down 1.7%

Shares of CMCO stock opened at $13.24 on Thursday. 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 3.38, a quick ratio of 0.98 and a current ratio of 2.02. The stock has a market cap of $381.71 million, a price-to-earnings ratio of -2.42 and a beta of 1.39. The firm has a fifty day moving average of $14.51 and a 200-day moving average of $16.66.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share (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 business had revenue of $437.83 million during the quarter, compared to the consensus estimate of $419.56 million. During the same period in the previous year, the firm posted $0.60 EPS. The company'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. On average, equities research analysts forecast that Columbus McKinnon will post 1.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Columbus McKinnon

A number of large investors have recently bought and sold shares of the company. First Eagle Investment Management LLC bought a new position in Columbus McKinnon in the fourth quarter valued at approximately $2,465,000. Bernzott Capital Advisors lifted its position in shares of Columbus McKinnon by 83.0% during the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company's stock worth $9,329,000 after buying an additional 245,222 shares during the last quarter. Legato Capital Management LLC lifted its position in shares of Columbus McKinnon by 214.8% during the 4th quarter. Legato Capital Management LLC now owns 67,336 shares of the industrial products company's stock worth $1,162,000 after buying an additional 45,945 shares during the last quarter. Heartland Advisors Inc. boosted its stake in Columbus McKinnon by 26.1% in the fourth quarter. Heartland Advisors Inc. now owns 595,100 shares of the industrial products company's stock valued at $10,265,000 after buying an additional 123,025 shares in the last quarter. Finally, LSV Asset Management grew its position in Columbus McKinnon by 56.6% in the fourth quarter. LSV Asset Management now owns 107,746 shares of the industrial products company's stock valued at $1,859,000 after acquiring an additional 38,946 shares during 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 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.