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Columbus McKinnon (NASDAQ:CMCO - Get Rating) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

Several other equities research analysts have also recently commented on CMCO. Barrington Research dropped their price target on shares of Columbus McKinnon from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Thursday, July 28th. DA Davidson reduced their price objective on shares of Columbus McKinnon from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Columbus McKinnon currently has an average rating of "Hold" and a consensus target price of $40.00.Columbus McKinnon Price Performance

Columbus McKinnon stock traded down $0.88 during midday trading on Wednesday, hitting $26.58. The company's stock had a trading volume of 116,601 shares, compared to its average volume of 116,861. The company has a quick ratio of 1.16, a current ratio of 2.02 and a debt-to-equity ratio of 0.59. The stock's 50-day moving average price is $30.63 and its 200-day moving average price is $33.02. Columbus McKinnon has a 12 month low of $25.38 and a 12 month high of $54.20. The company has a market capitalization of $760.91 million, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.46 and a beta of 1.26.

Columbus McKinnon (NASDAQ:CMCO - Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The industrial products company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.60 by $0.09. Columbus McKinnon had a net margin of 4.96% and a return on equity of 10.76%. The firm had revenue of $220.29 million for the quarter, compared to analysts' expectations of $228.04 million. Analysts anticipate that Columbus McKinnon will post 2.91 earnings per share for the current fiscal year. Hedge Funds Weigh In On Columbus McKinnon

Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new position in shares of Columbus McKinnon in the 2nd quarter valued at about $54,000. Advisor Group Holdings Inc. increased its holdings in Columbus McKinnon by 51.2% in the first quarter. Advisor Group Holdings Inc. now owns 2,525 shares of the industrial products company's stock worth $107,000 after buying an additional 855 shares during the last quarter. Amalgamated Bank acquired a new position in Columbus McKinnon in the first quarter worth approximately $142,000. Jane Street Group LLC acquired a new position in Columbus McKinnon in the second quarter worth approximately $202,000. Finally, SG Americas Securities LLC acquired a new position in Columbus McKinnon in the second quarter worth approximately $228,000. Institutional investors and hedge funds own 96.85% of the company's stock. About Columbus McKinnon (Get Rating)

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.Featured ArticlesGet a free copy of the StockNews.com research report on Columbus McKinnon (CMCO)Hot Potato: Lamb Weston Stock Confirms a Top Too Soon: 3 Reasons to Wait on DocuSign StockRite-Aid Sings a Familiar Tune That Investors Don’t Want to Hear Vertex Shares Higher On Optimism About CRISPR PartnershipDon't Give Up on These Q3 Losers

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