Investment analysts at DA Davidson started coverage on shares of Columbus McKinnon (NASDAQ:CMCO) in a research report issued on Wednesday, The Fly reports. The firm set a "neutral" rating and a $35.00 price target on the industrial products company's stock. DA Davidson's price objective indicates a potential upside of 4.76% from the company's previous close.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Columbus McKinnon from a "buy" rating to a "strong sell" rating in a report on Thursday, April 16th. Barrington Research upped their target price on shares of Columbus McKinnon from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Tuesday, June 30th. Craig Hallum decreased their price target on Columbus McKinnon from $48.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Sidoti lowered Columbus McKinnon from a "buy" rating to a "neutral" rating in a research note on Thursday, April 30th. Finally, ValuEngine upgraded Columbus McKinnon from a "sell" rating to a "hold" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. The stock has a consensus rating of "Hold" and a consensus price target of $38.17.
NASDAQ CMCO opened at $33.41 on Wednesday. The business's fifty day moving average is $31.62 and its 200 day moving average is $31.00. Columbus McKinnon has a fifty-two week low of $19.20 and a fifty-two week high of $43.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.64 and a current ratio of 2.46. The company has a market capitalization of $768.07 million, a PE ratio of 13.42, a price-to-earnings-growth ratio of 3.06 and a beta of 1.61.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Wednesday, May 27th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $189.49 million for the quarter, compared to the consensus estimate of $187.25 million. Columbus McKinnon had a return on equity of 14.24% and a net margin of 7.37%. On average, sell-side analysts forecast that Columbus McKinnon will post 0.88 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CMCO. FMR LLC grew its position in shares of Columbus McKinnon by 35.8% during the first quarter. FMR LLC now owns 636,200 shares of the industrial products company's stock valued at $21,853,000 after purchasing an additional 167,700 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Columbus McKinnon during the fourth quarter valued at approximately $54,000. Citigroup Inc. grew its holdings in Columbus McKinnon by 149.3% during the 4th quarter. Citigroup Inc. now owns 19,368 shares of the industrial products company's stock valued at $775,000 after buying an additional 11,600 shares in the last quarter. Renaissance Technologies LLC increased its stake in Columbus McKinnon by 10.7% in the 4th quarter. Renaissance Technologies LLC now owns 266,000 shares of the industrial products company's stock worth $10,648,000 after acquiring an additional 25,700 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in Columbus McKinnon in the 4th quarter worth approximately $833,000. 97.37% of the stock is owned by institutional investors and hedge funds.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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