Zacks Research lowered shares of Columbus McKinnon (NASDAQ:CMCO – Free Report) from a strong-buy rating to a hold rating in a research note released on Thursday morning,Zacks.com reports.
Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Finally, DA Davidson reduced their price target on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Columbus McKinnon has a consensus rating of “Hold” and a consensus price target of $22.00.
Read Our Latest Analysis on CMCO
Columbus McKinnon Price Performance
Columbus McKinnon (NASDAQ:CMCO – Get Free Report) last issued its earnings results on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). The business had revenue of $437.83 million for the quarter, compared to analyst estimates of $419.56 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.The firm’s revenue was up 77.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, equities research analysts predict that Columbus McKinnon will post 1.73 EPS for the current year.
Institutional Investors Weigh In On Columbus McKinnon
A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings in 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 in the last quarter. Group One Trading LLC lifted its stake in Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Columbus McKinnon by 66.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Columbus McKinnon by 267.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,893 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Columbus McKinnon by 41.4% in the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 918 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.
With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.
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