Columbus McKinnon Corporation (NASDAQ:CMCO) Stock Has Average Target Price of $23.00 According to Analysts

Key Points

• Analyst sentiment is moderately positive: Columbus McKinnon has a consensus “Moderate Buy” rating from five analysts, with an average 12-month price target of $23.00 versus a recent share price of $15.93.
• Quarterly results exceeded expectations: The company reported earnings of $0.61 per share versus the $0.27 consensus estimate, while revenue reached $531.46 million, up 125.3% year over year and above forecasts.
• Insiders have recently bought shares: An executive vice president purchased 7,500 shares and a director bought 2,750 shares; institutional investors own approximately 95.96% of the company.

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $23.00.

Several research firms have commented on CMCO. Weiss Ratings downgraded Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Wall Street Zen cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Zacks Research raised Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. Finally, DA Davidson cut their price target on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, June 15th.

Insider Buying and Selling

In other Columbus McKinnon news, EVP John R. Linker purchased 7,500 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher J. Stephens acquired 2,750 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the transaction, the director owned 22,317 shares of the company's stock, valued at $382,513.38. This trade represents a 14.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.09% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Columbus McKinnon in the second quarter valued at $25,000. Integrated Wealth Concepts LLC purchased a new position in shares of Columbus McKinnon in the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company's stock worth $30,000 after buying an additional 565 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Columbus McKinnon during the 2nd quarter valued at about $44,000. Finally, State of Wyoming purchased a new stake in shares of Columbus McKinnon during the 2nd quarter valued at about $66,000. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $15.93 on Thursday. The stock has a market capitalization of $459.80 million, a price-to-earnings ratio of -2.14 and a beta of 1.36. Columbus McKinnon has a fifty-two week low of $11.99 and a fifty-two week high of $24.40. The business has a 50-day moving average of $17.78 and a 200-day moving average of $15.75. 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 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $531.46 million during the quarter, compared to analysts' expectations of $501.27 million. During the same period in the previous year, the business posted $0.50 earnings per share. The company's revenue for the quarter was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, sell-side analysts predict that Columbus McKinnon will post 2 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.8%. Columbus McKinnon's payout ratio is currently -3.75%.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is an industrial technology company that designs, manufactures and distributes products and systems used to move, lift, position and control materials. Its solutions support material handling, automation and motion-control applications across a range of industrial and commercial markets.

The company's product portfolio includes electric and manual hoists, cranes and crane components, lifting equipment, actuators, gear reducers, conveyors, precision positioning systems and related controls.

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