Columbus McKinnon (NASDAQ:CMCO) Downgraded by Zacks Research to Hold

Columbus McKinnon (NASDAQ:CMCO) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Finally, DA Davidson lowered their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.00.

Columbus McKinnon Stock Down 1.7%

Shares of NASDAQ CMCO opened at $13.24 on Thursday. The stock has a market capitalization of $381.71 million, a P/E ratio of -2.42 and a beta of 1.39. 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 3.38, a current ratio of 2.02 and a quick ratio of 0.98. The company has a 50-day moving average price of $14.51 and a 200-day moving average price of $16.66.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The company had revenue of $437.83 million for the quarter, compared to the consensus estimate of $419.56 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The business’s revenue for the quarter was up 77.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, equities research analysts forecast that Columbus McKinnon will post 1.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Columbus McKinnon

A number of institutional investors have recently added to or reduced their stakes in CMCO. Empowered Funds LLC boosted its position in shares of Columbus McKinnon by 122.6% during the 1st quarter. Empowered Funds LLC now owns 262,129 shares of the industrial products company’s stock valued at $3,809,000 after acquiring an additional 144,351 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Columbus McKinnon in the first quarter worth approximately $535,000. Quantinno Capital Management LP increased its position in shares of Columbus McKinnon by 25.8% in the first quarter. Quantinno Capital Management LP now owns 101,139 shares of the industrial products company’s stock worth $1,470,000 after purchasing an additional 20,714 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Columbus McKinnon in the first quarter valued at approximately $2,756,000. Finally, Van Den Berg Management I Inc. raised its stake in Columbus McKinnon by 26.2% in the first quarter. Van Den Berg Management I Inc. now owns 478,328 shares of the industrial products company’s stock valued at $6,950,000 after purchasing an additional 99,309 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

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.