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Columbus McKinnon (NASDAQ:CMCO - Get Rating) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Thursday.
Several other equities research analysts have also recently commented on the company. Barrington Research dropped their target price on Columbus McKinnon from $50.00 to $48.00 and set an "outperform" rating on the stock in a report on Thursday, July 28th. DA Davidson dropped their price target on Columbus McKinnon from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, October 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.Columbus McKinnon Stock Performance
Shares of CMCO stock opened at $24.51 on Thursday. 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 business has a 50 day moving average of $29.86 and a two-hundred day moving average of $32.32. The company has a market cap of $701.65 million, a P/E ratio of 15.61 and a beta of 1.26. Columbus McKinnon has a 52 week low of $24.20 and a 52 week high of $54.20.
Columbus McKinnon (NASDAQ:CMCO - Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. Columbus McKinnon had a return on equity of 10.76% and a net margin of 4.96%. The business had revenue of $220.29 million during the quarter, compared to the consensus estimate of $228.04 million. As a group, analysts anticipate that Columbus McKinnon will post 2.88 EPS for the current year. Hedge Funds Weigh In On Columbus McKinnon
Several institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its holdings in shares of Columbus McKinnon by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 9,817 shares of the industrial products company's stock valued at $278,000 after acquiring an additional 342 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Columbus McKinnon by 0.6% during the second quarter. Eagle Asset Management Inc. now owns 61,743 shares of the industrial products company's stock valued at $1,751,000 after buying an additional 344 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Columbus McKinnon by 2.0% during the first quarter. Hsbc Holdings PLC now owns 17,982 shares of the industrial products company's stock valued at $767,000 after buying an additional 352 shares during the last quarter. Bank of Montreal Can raised its position in Columbus McKinnon by 6.9% in the first quarter. Bank of Montreal Can now owns 5,815 shares of the industrial products company's stock worth $263,000 after purchasing an additional 375 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Columbus McKinnon by 7.9% during the first quarter. Teacher Retirement System of Texas now owns 5,872 shares of the industrial products company's stock worth $249,000 after buying an additional 428 shares during the last quarter. 96.85% of the stock is currently owned by hedge funds and other institutional investors. Columbus McKinnon Company Profile (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.Further ReadingGet a free copy of the StockNews.com research report on Columbus McKinnon (CMCO)Apple's Price Targets Are ChangingPut Pep In Your Portfolio With Low-Beta PepsicoInstitutional Investors Are Buying These Two StocksIs Take-Two Interactive Software Inc. a Q4 Winner? 3 Oil Stocks That Are Heating Back Up
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