Columbus McKinnon (NASDAQ:CMCO) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Columbus McKinnon shares rose above their 200-day moving average, reaching $16.64 before closing at $16.10, compared with the $15.85 long-term average.
• Analyst sentiment is mixed but leans positive: the stock carries a “Moderate Buy” consensus rating and a $23.00 average price target, while recent recommendations ranged from “Strong Buy” to “Sell.”
• The company reported stronger-than-expected quarterly results, with EPS of $0.61 versus the $0.27 consensus and revenue of $531.46 million, up 125.3% year over year; insiders also recently purchased shares.

Columbus McKinnon Corporation (NASDAQ:CMCO - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.85 and traded as high as $16.64. Columbus McKinnon shares last traded at $16.10, with a volume of 423,314 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMCO. Zacks Research raised Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the company 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. DA Davidson decreased their target price on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, June 15th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Columbus McKinnon currently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

Columbus McKinnon Price Performance

The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. The stock has a market capitalization of $464.65 million, a PE ratio of -2.16 and a beta of 1.36. The stock's 50 day moving average is $17.37 and its two-hundred day moving average is $15.85.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The company had revenue of $531.46 million during the quarter, compared to analyst estimates of $501.27 million. During the same period in the previous year, the business earned $0.50 EPS. Columbus McKinnon's quarterly revenue was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities analysts anticipate that Columbus McKinnon Corporation will post 2.05 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

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

Insider Buying and Selling at Columbus McKinnon

In other news, EVP John Linker acquired 7,500 shares of Columbus McKinnon stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $19.67 per share, with a total value of $147,525.00. Following the purchase, the executive vice president owned 7,500 shares in the company, valued at $147,525. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher Stephens acquired 2,750 shares of the firm'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 acquisition, the director directly owned 22,317 shares in the company, valued at $382,513.38. This represents a 14.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Columbus McKinnon

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

About Columbus McKinnon

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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