Columbus McKinnon (NASDAQ:CMCO) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• Columbus McKinnon shares rose above their 200-day moving average, reaching $18.40 before last trading at $17.69. The stock’s average analyst rating is “Moderate Buy,” with a consensus price target of $23.00, though recent opinions range from “Strong Buy” to “Sell.”
• The company reported stronger-than-expected quarterly results, posting $0.61 EPS versus the $0.27 estimate and revenue of $531.46 million versus $501.27 million expected. Revenue increased 125.3% year over year, despite the company recording a negative net margin.
• Columbus McKinnon paid a quarterly dividend of $0.07 per share, equivalent to a 1.6% annualized yield. Institutional investors own nearly 96% of the stock, while an executive recently purchased 7,500 shares at an average price of $19.67.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.27 and traded as high as $18.40. Columbus McKinnon shares last traded at $17.69, with a volume of 315,335 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMCO. Weiss Ratings cut shares of Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Zacks Research upgraded Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. DA Davidson decreased their price target on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, June 15th. Wall Street Zen cut Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

Columbus McKinnon Stock Down 0.6%

The business has a 50-day moving average of $15.96 and a 200 day moving average of $16.27. The company has a market capitalization of $510.60 million, a PE ratio of -2.37 and a beta of 1.37. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00.

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

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Columbus McKinnon's dividend payout ratio is presently -3.75%.

Insider Buying and Selling

In other Columbus McKinnon news, EVP John R. Linker acquired 7,500 shares of the stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president directly owned 7,500 shares of the company's stock, valued at $147,525. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.09% of the stock is owned by company insiders.

Institutional Trading of Columbus McKinnon

Several hedge funds have recently made changes to their positions in the business. Sei Investments Co. increased its stake in Columbus McKinnon by 89.5% during the first quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company's stock worth $2,717,000 after acquiring an additional 88,285 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Columbus McKinnon during the fourth quarter valued at approximately $2,465,000. Heartland Advisors Inc. lifted its stake in shares of Columbus McKinnon by 16.6% in the 1st quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company's stock valued at $10,085,000 after purchasing an additional 98,950 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Columbus McKinnon by 232.5% in the 1st quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company's stock valued at $5,366,000 after purchasing an additional 258,238 shares during the last quarter. Finally, Bernzott Capital Advisors boosted its holdings in shares of Columbus McKinnon by 83.0% in the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company's stock worth $9,329,000 after purchasing an additional 245,222 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source