Columbus McKinnon Corp. (CMCO) Receives $46.67 Average Target Price from Analysts

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Columbus McKinnon Corp. (NASDAQ:CMCO) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $46.67.

Several research analysts have commented on CMCO shares. Zacks Investment Research raised Columbus McKinnon from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, January 28th. Seaport Global Securities started coverage on Columbus McKinnon in a report on Wednesday, January 23rd. They set a “buy” rating and a $42.00 target price on the stock. Roth Capital set a $44.00 price objective on Columbus McKinnon and gave the company a “buy” rating in a research note on Saturday, February 2nd. BidaskClub raised Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Finally, ValuEngine raised Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th.

In other news, VP Alan S. Korman sold 5,168 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $37.90, for a total value of $195,867.20. Following the transaction, the vice president now directly owns 15,711 shares of the company’s stock, valued at approximately $595,446.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.27% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in Columbus McKinnon by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 245,917 shares of the industrial products company’s stock valued at $7,411,000 after buying an additional 17,099 shares in the last quarter. FMR LLC increased its position in Columbus McKinnon by 14.7% in the 4th quarter. FMR LLC now owns 468,500 shares of the industrial products company’s stock valued at $14,121,000 after buying an additional 60,171 shares in the last quarter. Walthausen & Co. LLC increased its position in Columbus McKinnon by 6.8% in the 4th quarter. Walthausen & Co. LLC now owns 242,881 shares of the industrial products company’s stock valued at $7,320,000 after buying an additional 15,480 shares in the last quarter. Nordea Investment Management AB increased its position in Columbus McKinnon by 8.4% in the 4th quarter. Nordea Investment Management AB now owns 129,866 shares of the industrial products company’s stock valued at $3,914,000 after buying an additional 10,099 shares in the last quarter. Finally, Millennium Management LLC increased its position in Columbus McKinnon by 78.9% in the 4th quarter. Millennium Management LLC now owns 123,494 shares of the industrial products company’s stock valued at $3,722,000 after buying an additional 54,447 shares in the last quarter. 96.50% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon stock traded down $1.71 during mid-day trading on Thursday, reaching $33.18. 120,299 shares of the company were exchanged, compared to its average volume of 100,125. Columbus McKinnon has a 12 month low of $27.66 and a 12 month high of $45.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.78 and a quick ratio of 1.01. The firm has a market cap of $774.92 million, a PE ratio of 16.51 and a beta of 1.78.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $217.42 million for the quarter, compared to analyst estimates of $215.05 million. Columbus McKinnon had a return on equity of 14.55% and a net margin of 3.58%. Sell-side analysts expect that Columbus McKinnon will post 2.63 earnings per share for the current fiscal year.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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