Columbus McKinnon (NASDAQ:CMCO – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.
A number of other brokerages also recently commented on CMCO. Wall Street Zen downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 22nd. DA Davidson set a $20.00 target price on shares of Columbus McKinnon in a research note on Thursday, February 12th. JPMorgan Chase & Co. reduced their target price on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Columbus McKinnon in a research note on Tuesday, April 14th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.50.
Check Out Our Latest Stock Report on Columbus McKinnon
Columbus McKinnon Stock Performance
Columbus McKinnon (NASDAQ:CMCO – Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $258.66 million for the quarter, compared to analyst estimates of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. Columbus McKinnon’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, sell-side analysts expect that Columbus McKinnon will post 1.89 EPS for the current fiscal year.
Institutional Investors Weigh In On Columbus McKinnon
Institutional investors and hedge funds have recently made changes to their positions in the stock. SummerHaven Investment Management LLC purchased a new stake in shares of Columbus McKinnon in the 3rd quarter valued at approximately $735,000. AlphaQuest LLC raised its stake in shares of Columbus McKinnon by 118.8% in the 3rd quarter. AlphaQuest LLC now owns 68,122 shares of the industrial products company’s stock valued at $977,000 after acquiring an additional 36,986 shares during the period. Bernzott Capital Advisors raised its stake in shares of Columbus McKinnon by 83.0% in the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company’s stock valued at $9,329,000 after acquiring an additional 245,222 shares during the period. SG Americas Securities LLC raised its stake in shares of Columbus McKinnon by 282.1% in the 3rd quarter. SG Americas Securities LLC now owns 34,531 shares of the industrial products company’s stock valued at $495,000 after acquiring an additional 25,494 shares during the period. Finally, First Eagle Investment Management LLC purchased a new stake in shares of Columbus McKinnon in the 4th quarter valued at approximately $2,465,000. 95.96% of the stock is owned by hedge funds and other institutional investors.
About Columbus McKinnon
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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