Analysts Set Columbus McKinnon Corporation (CMCO) Price Target at $37.00

Columbus McKinnon Corporation (NASDAQ:CMCO) has received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $37.00.

Several equities research analysts recently weighed in on the stock. ValuEngine cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Zacks Investment Research cut shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Roth Capital boosted their price target on shares of Columbus McKinnon from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd.

Shares of Columbus McKinnon (NASDAQ:CMCO) traded down $0.35 on Thursday, reaching $39.59. 96,602 shares of the company traded hands, compared to its average volume of 101,140. Columbus McKinnon has a 12 month low of $22.88 and a 12 month high of $41.49. The company has a market capitalization of $910.49, a PE ratio of 23.57 and a beta of 1.91. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.96 and a quick ratio of 1.18.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Columbus McKinnon had a net margin of 2.65% and a return on equity of 10.95%. The company had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $203.27 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Columbus McKinnon’s quarterly revenue was up 40.0% on a year-over-year basis. analysts anticipate that Columbus McKinnon will post 1.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Thursday, November 9th. Columbus McKinnon’s payout ratio is 18.82%.

In other Columbus McKinnon news, VP Alan S. Korman sold 2,500 shares of Columbus McKinnon stock in a transaction on Monday, September 11th. The shares were sold at an average price of $32.93, for a total transaction of $82,325.00. Following the completion of the transaction, the vice president now directly owns 13,121 shares of the company’s stock, valued at $432,074.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gene P. Buer sold 30,529 shares of Columbus McKinnon stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $38.00, for a total transaction of $1,160,102.00. Following the transaction, the vice president now directly owns 17,136 shares of the company’s stock, valued at $651,168. The disclosure for this sale can be found here. Insiders have sold 36,935 shares of company stock valued at $1,398,511 over the last ninety days. 3.91% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Systematic Financial Management LP boosted its stake in shares of Columbus McKinnon by 17.4% during the third quarter. Systematic Financial Management LP now owns 264,273 shares of the industrial products company’s stock valued at $10,008,000 after purchasing an additional 39,118 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Columbus McKinnon by 2.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 123,828 shares of the industrial products company’s stock valued at $3,148,000 after purchasing an additional 2,900 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Columbus McKinnon by 16.0% during the second quarter. New York State Common Retirement Fund now owns 22,500 shares of the industrial products company’s stock valued at $572,000 after purchasing an additional 3,099 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Columbus McKinnon during the second quarter valued at $375,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Columbus McKinnon by 11.6% during the second quarter. Victory Capital Management Inc. now owns 56,455 shares of the industrial products company’s stock valued at $1,435,000 after purchasing an additional 5,848 shares during the period. 85.14% of the stock is owned by hedge funds and other institutional investors.

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