Columbus McKinnon (NASDAQ:CMCO) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Columbus McKinnon shares rose above their 200-day moving average of $16.54, reaching $18.66 before last trading at $18.15.
• Fiscal Q2 revenue increased 106.6% year over year to $539.3 million, while adjusted EPS of $0.61 beat estimates of about $0.38. Management raised FY2027 guidance and said Kito Crosby integration synergies are running ahead of plan.
• Analyst sentiment remains mixed: MarketBeat reports a consensus Hold rating and a $23 average price target.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $16.54 and traded as high as $18.66. Columbus McKinnon shares last traded at $18.15, with a volume of 1,056,173 shares changing hands.

Columbus McKinnon News Roundup

Here are the key news stories impacting Columbus McKinnon this week:

• Positive Sentiment: Fiscal Q2 net sales rose 106.6% year over year to $539.3 million, beating analysts’ $518.7 million estimate. Adjusted earnings were $0.61 per share, above the roughly $0.37–$0.38 consensus. Zacks earnings report
• Positive Sentiment: Management raised its FY2027 guidance for net sales, adjusted EBITDA and adjusted EPS. It also said Kito Crosby integration is on track, with synergies ahead of plan; a 1.0x book-to-bill ratio supports expectations for continued progress in the second half. Company earnings release
• Neutral Sentiment: Despite the strong revenue growth, EPS was slightly below the $0.62 reported a year earlier. The company attributed much of the sales increase to the Kito Crosby acquisition, while also reporting growth at both legacy Columbus McKinnon and Kito Crosby. Sales and stock reaction article

Analysts Set New Price Targets

CMCO has been the subject of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Columbus McKinnon in a research report on Thursday, October 29th. JPMorgan Chase & Co. upped their target price on Columbus McKinnon from $25.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Finally, Zacks Research lowered Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $23.00.

Columbus McKinnon Price Performance

The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95. The company's fifty day moving average price is $16.27 and its 200 day moving average price is $16.54. The company has a market capitalization of $523.81 million, a P/E ratio of -2.43 and a beta of 1.49.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.23. The business had revenue of $539.29 million during the quarter, compared to analysts' expectations of $518.65 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%. The firm's revenue for the quarter was up 106.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. As a group, sell-side analysts forecast that Columbus McKinnon Corporation will post 2.00 EPS for the current year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, November 6th will be given a $0.07 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Columbus McKinnon's dividend payout ratio (DPR) is presently -3.75%.

Insider Buying and Selling

In related news, Director Christopher Stephens purchased 2,750 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average price of $17.14 per share, with a total value 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 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 the SEC website. 2.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbus McKinnon

Several hedge funds and other institutional investors have recently made changes to their positions in CMCO. Public Employees Retirement System of Ohio acquired a new position in shares of Columbus McKinnon during the 2nd quarter worth $25,000. Integrated Wealth Concepts LLC acquired a new stake in Columbus McKinnon in the second quarter valued at about $29,000. Legal & General Group Plc acquired a new stake in Columbus McKinnon in the second quarter valued at about $44,000. State of Wyoming acquired a new stake in Columbus McKinnon in the second quarter valued at about $66,000. Finally, Strs Ohio grew its position in Columbus McKinnon by 88.9% in the first quarter. Strs Ohio now owns 17,000 shares of the industrial products company's stock valued at $247,000 after acquiring an additional 8,000 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Company Profile

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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