Columbus McKinnon (NASDAQ:CMCO) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Columbus McKinnon shares crossed above their 200-day moving average, reaching $16.44 before closing at $16.03, compared with the $15.74 long-term average.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and a $23.00 price target; JPMorgan recently raised its target to $29, while DA Davidson cut its target to $17.
• The company exceeded quarterly expectations, reporting $0.61 in EPS versus a $0.27 estimate and $531.46 million in revenue versus $501.27 million expected. Columbus McKinnon also declared a $0.07 quarterly dividend, equivalent to a 1.7% annual yield.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.74 and traded as high as $16.44. Columbus McKinnon shares last traded at $16.03, with a volume of 423,396 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMCO shares. Zacks Research upgraded shares of Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Weiss Ratings lowered Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on 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 downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Finally, DA Davidson lowered their target price on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, June 15th. Two equities research 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Columbus McKinnon has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Columbus McKinnon Stock Performance

The stock has a market capitalization of $462.63 million, a P/E ratio of -2.15 and a beta of 1.36. The firm has a 50-day moving average of $17.65 and a 200 day moving average of $15.74. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.34. The firm had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business's revenue for the quarter was up 125.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Research analysts anticipate that Columbus McKinnon Corporation will post 2 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 7th. Columbus McKinnon's dividend payout ratio is -3.75%.

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher Stephens purchased 2,750 shares of the business's stock in a transaction on Thursday, August 20th. The stock was purchased at an average price 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 approximately $382,513.38. This trade represents a 14.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Linker acquired 7,500 shares of the firm's stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the acquisition, the executive vice president directly owned 7,500 shares of the company's stock, valued at approximately $147,525. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.09% of the stock is owned by company insiders.

Institutional Trading of Columbus McKinnon

Several institutional investors have recently bought and sold shares of CMCO. BlackRock Inc. acquired a new position in Columbus McKinnon during the second quarter worth $37,183,000. Stanley Capital Management LLC acquired a new stake in shares of Columbus McKinnon during the 2nd quarter worth about $12,936,000. Heartland Advisors Inc. lifted its holdings in Columbus McKinnon by 16.6% during 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. Van Den Berg Management I Inc. lifted its holdings in 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 purchasing an additional 56,282 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Columbus McKinnon in the fourth quarter valued at about $6,395,000. Institutional investors and hedge funds own 95.96% of the company's stock.

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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