Columbus McKinnon Corporation (CMCO) Price Target Raised to $41.00 at Roth Capital

Columbus McKinnon Corporation (NASDAQ:CMCO) had its price objective hoisted by equities research analysts at Roth Capital from $36.00 to $41.00 in a report released on Thursday, November 2nd. The firm currently has a “buy” rating on the industrial products company’s stock. Roth Capital’s price objective indicates a potential upside of 2.96% from the company’s previous close.

Several other brokerages also recently weighed in on CMCO. ValuEngine downgraded shares of Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Columbus McKinnon Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. TheStreet upgraded shares of Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded shares of Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Columbus McKinnon Corporation has a consensus rating of “Buy” and a consensus price target of $37.00.

Shares of Columbus McKinnon Corporation (CMCO) opened at $39.82 on Thursday. The firm has a market cap of $907.06, a P/E ratio of 23.48 and a beta of 1.92. Columbus McKinnon Corporation has a one year low of $22.88 and a one year high of $41.49. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 0.89.

Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The company had revenue of $212.80 million during the quarter, compared to the consensus estimate of $203.27 million. Columbus McKinnon Corporation had a net margin of 2.65% and a return on equity of 10.95%. Columbus McKinnon Corporation’s revenue was up 40.0% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. equities research analysts anticipate that Columbus McKinnon Corporation will post 1.95 EPS for the current year.

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In other news, Director Timothy T. Tevens sold 43,845 shares of Columbus McKinnon Corporation stock in a transaction on Friday, August 25th. The shares were sold at an average price of $31.84, for a total transaction of $1,396,024.80. Following the completion of the sale, the director now directly owns 293,536 shares in the company, valued at $9,346,186.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alan S. Korman sold 1,000 shares of Columbus McKinnon Corporation stock in a transaction on Monday, August 28th. The stock was sold at an average price of $32.00, for a total transaction of $32,000.00. The disclosure for this sale can be found here. Insiders have sold 77,874 shares of company stock valued at $2,670,452 over the last quarter. Insiders own 3.91% of the company’s stock.

Several institutional investors have recently modified their holdings of CMCO. SG Americas Securities LLC purchased a new position in shares of Columbus McKinnon Corporation during the third quarter worth $141,000. Laurion Capital Management LP purchased a new position in shares of Columbus McKinnon Corporation during the second quarter worth $202,000. Cubist Systematic Strategies LLC purchased a new position in shares of Columbus McKinnon Corporation during the third quarter worth $202,000. Trexquant Investment LP purchased a new position in shares of Columbus McKinnon Corporation during the third quarter worth $212,000. Finally, WealthTrust Axiom LLC purchased a new position in shares of Columbus McKinnon Corporation during the third quarter worth $227,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

About Columbus McKinnon Corporation

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