Columbus McKinnon Corporation (NASDAQ:CMCO) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Analyst consensus is “Hold” for Columbus McKinnon, with ratings split among sell, hold, buy and strong buy; the average 12-month price target is $23.00.
• The company exceeded quarterly expectations, reporting $0.61 EPS versus a $0.27 estimate and $531.46 million in revenue, up 125.3% year over year.
• Insiders recently purchased shares, while institutional investors own a substantial 95.96% of outstanding stock; shares opened at $13.52, well below the 12-month high of $24.40.

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) have received a consensus recommendation of "Hold" from the five brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.00.

Several brokerages recently weighed in on CMCO. JPMorgan Chase & Co. increased their price target on Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. 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. Finally, Zacks Research downgraded shares of Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $13.52 on Monday. Columbus McKinnon has a 12 month low of $11.99 and a 12 month high of $24.40. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The firm has a market capitalization of $390.19 million, a PE ratio of -1.81 and a beta of 1.43. The business's fifty day moving average price is $16.63 and its 200 day moving average price is $15.88.

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 the consensus estimate of $0.27 by $0.34. The business had revenue of $531.46 million during the quarter, compared to analysts' expectations of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%. The business's quarterly revenue was up 125.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, sell-side analysts anticipate that Columbus McKinnon will post 2.00 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 2,750 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the completion of the purchase, the director directly owned 22,317 shares in the company, valued at $382,513.38. This represents a 14.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John R. Linker acquired 7,500 shares of the company's stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the acquisition, 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. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.09% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Columbus McKinnon during the 2nd quarter worth $29,000. Squarepoint Ops LLC purchased a new position in shares of Columbus McKinnon in the 2nd quarter valued at about $1,225,000. Readystate Asset Management LP acquired a new stake in shares of Columbus McKinnon in the second quarter valued at about $675,000. Van Den Berg Management I Inc. lifted its position in shares of Columbus McKinnon by 11.8% during the 2nd quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company's stock valued at $8,089,000 after acquiring an additional 56,282 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Columbus McKinnon by 18.2% during the 2nd quarter. Hsbc Holdings PLC now owns 53,933 shares of the industrial products company's stock worth $797,000 after acquiring an additional 8,292 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

About Columbus McKinnon

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.

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