Posted by admin on May 27th, 2022
Columbus McKinnon (NASDAQ:CMCO – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “
A number of other research firms also recently weighed in on CMCO. StockNews.com began coverage on Columbus McKinnon in a report on Thursday, March 31st. They set a “hold” rating for the company. Craig Hallum downgraded Columbus McKinnon from a “buy” rating to a “hold” rating and lowered their target price for the stock from $60.00 to $35.00 in a research note on Wednesday. JPMorgan Chase & Co. downgraded Columbus McKinnon from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $37.00 in a research note on Thursday. DA Davidson lowered their target price on Columbus McKinnon to $50.00 in a research note on Thursday. Finally, TheStreet downgraded Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Friday, April 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.20.
NASDAQ:CMCO traded up $3.22 during mid-day trading on Friday, reaching $33.67. 315,143 shares of the company were exchanged, compared to its average volume of 125,730. Columbus McKinnon has a 12 month low of $30.13 and a 12 month high of $54.20. The company has a fifty day moving average of $37.85 and a 200 day moving average of $43.28. The company has a quick ratio of 1.15, a current ratio of 1.91 and a debt-to-equity ratio of 0.64. The stock has a market cap of $959.86 million, a PE ratio of 34.01, a PEG ratio of 0.38 and a beta of 1.17.
Columbus McKinnon (NASDAQ:CMCO – Get Rating) last announced its quarterly earnings results on Wednesday, May 25th. The industrial products company reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. Columbus McKinnon had a net margin of 3.27% and a return on equity of 10.19%. The business had revenue of $253.40 million for the quarter, compared to the consensus estimate of $235.33 million. During the same period last year, the company posted $0.50 EPS. Columbus McKinnon’s revenue for the quarter was up 36.1% on a year-over-year basis. On average, equities research analysts anticipate that Columbus McKinnon will post 2.82 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. bought a new stake in shares of Columbus McKinnon during the fourth quarter worth about $56,000. Advisor Group Holdings Inc. boosted its holdings in Columbus McKinnon by 184.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,670 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 1,083 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Columbus McKinnon by 95.7% during the 3rd quarter. Citigroup Inc. now owns 3,707 shares of the industrial products company’s stock worth $179,000 after buying an additional 1,813 shares in the last quarter. PEAK6 Investments LLC bought a new position in shares of Columbus McKinnon during the 3rd quarter worth approximately $206,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Columbus McKinnon during the 3rd quarter worth approximately $217,000. Institutional investors own 97.70% of the company’s stock.
Columbus McKinnon Company Profile (Get Rating)
Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected hoists, custom engineered hoists, and winches; crane systems, such as crane components, crane kits, enclosed track rail systems, mobile and workstation cranes, jib cranes, lift assists, and fall protection systems; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, clamps, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.
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