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

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $23.00.

CMCO has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Wall Street Zen downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. DA Davidson dropped their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 15th. Zacks Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings cut Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st.

Insider Buying and Selling

In other news, Director Christopher Stephens purchased 2,750 shares of the stock in a transaction on 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 completion of the acquisition, the director directly owned 22,317 shares of the company’s stock, valued at $382,513.38. This trade represents a 14.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John Linker acquired 7,500 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president directly owned 7,500 shares in the company, valued at approximately $147,525. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Columbus McKinnon

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at approximately $37,183,000. Stanley Capital Management LLC purchased a new stake in Columbus McKinnon during the 2nd quarter valued at $12,936,000. Heartland Advisors Inc. bought a new stake in Columbus McKinnon in the second quarter worth $8,242,000. Empowered Funds LLC purchased a new position in shares of Columbus McKinnon during the 2nd quarter worth about $4,011,000. Finally, Renaissance Technologies LLC grew its holdings in Columbus McKinnon by 232.5% during the 1st quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock valued at $5,366,000 after purchasing an additional 258,238 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

NASDAQ CMCO opened at $16.16 on Thursday. Columbus McKinnon has a one year low of $11.99 and a one year high of $24.40. The stock has a 50-day moving average of $17.85 and a 200 day moving average of $15.82. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. The company has a market capitalization of $466.38 million, a price-to-earnings ratio of -2.17 and a beta of 1.43.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.34. The business had revenue of $531.46 million for the quarter, compared to analysts’ expectations of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business’s revenue for the quarter was up 125.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, sell-side analysts forecast that Columbus McKinnon will post 2 EPS for the current year.

Columbus McKinnon Dividend Announcement

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

Columbus McKinnon Company Profile

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.