Columbus McKinnon Corporation (NASDAQ:CMCO) Stock Has Consensus Target Price of $23.00 According to Brokerages

Columbus McKinnon Corporation (NASDAQ:CMCO – Get Free Report) has been given an average rating of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.00.

Several research analysts have recently weighed in on CMCO shares. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Zacks Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. DA Davidson dropped their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, June 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, July 31st.

Read Our Latest Stock Report on CMCO

Columbus McKinnon Price Performance

CMCO stock opened at $16.92 on Thursday. Columbus McKinnon has a 1 year low of $11.99 and a 1 year high of $24.40. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The firm has a market capitalization of $488.31 million, a PE ratio of -2.27 and a beta of 1.43. The business has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $15.79.

Columbus McKinnon (NASDAQ:CMCO – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The company had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 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 125.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Equities research analysts anticipate that Columbus McKinnon will post 2 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

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

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 2,750 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were acquired at an average price of $17.14 per share, with a total value of $47,135.00. Following the purchase, the director directly owned 22,317 shares in the company, valued at approximately $382,513.38. This trade represents a 14.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John R. Linker purchased 7,500 shares of the stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $19.67 per share, with a total value of $147,525.00. Following the completion of the acquisition, the executive vice president owned 7,500 shares in the company, valued at approximately $147,525. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.09% of the company’s stock.

Institutional Trading of Columbus McKinnon

A number of hedge funds and other institutional investors have recently modified their holdings of CMCO. EverSource Wealth Advisors LLC lifted its position in shares of Columbus McKinnon by 48.0% in the fourth 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. Public Employees Retirement System of Ohio acquired a new stake in Columbus McKinnon in the 2nd quarter valued at about $25,000. Integrated Wealth Concepts LLC bought a new position in shares of Columbus McKinnon during the 2nd quarter worth approximately $29,000. Legal & General Group Plc acquired a new position in shares of Columbus McKinnon in the second quarter valued at $44,000. Finally, Isthmus Partners LLC grew its stake in Columbus McKinnon by 3.4% in the 1st quarter. Isthmus Partners LLC now owns 124,049 shares of the industrial products company’s stock valued at $1,802,000 after buying an additional 4,063 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

About Columbus McKinnon

(Get Free Report)

Columbus McKinnon Corporation is a global designer, manufacturer and supplier of intelligent motion solutions used to move, lift, position and secure materials. The company serves industrial, commercial and infrastructure customers with equipment and systems intended to improve material handling, workplace safety and operational efficiency.

Its product portfolio includes electric and manual hoists, cranes and crane components, rigging equipment, actuators, motion-control systems, automated lifting solutions and related software and services.

See Also

Analyst Recommendations for Columbus McKinnon (NASDAQ:CMCO)

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