Columbus McKinnon (CMCO) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “

Other equities analysts have also recently issued research reports about the company. ValuEngine cut Columbus McKinnon from a buy rating to a hold rating in a research report on Tuesday, October 3rd. BidaskClub upgraded Columbus McKinnon from a sell rating to a hold rating in a research report on Friday, December 22nd. Finally, Roth Capital boosted their price target on Columbus McKinnon from $36.00 to $41.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $37.00.

Columbus McKinnon (NASDAQ CMCO) opened at $40.28 on Tuesday. The stock has a market capitalization of $935.12, a PE ratio of 47.39 and a beta of 1.91. Columbus McKinnon has a 52-week low of $22.88 and a 52-week high of $41.49. 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 issued its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The firm had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $203.27 million. Columbus McKinnon had a return on equity of 10.95% and a net margin of 2.65%. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. equities analysts expect that Columbus McKinnon will post 1.95 earnings per share for the current fiscal year.

In other Columbus McKinnon news, VP Gene P. Buer sold 30,529 shares of the business’s stock in a transaction that occurred 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 owns 17,136 shares in the company, valued at approximately $651,168. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Alan S. Korman sold 1,558 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $40.10, for a total value of $62,475.80. The disclosure for this sale can be found here. Insiders have sold a total of 36,254 shares of company stock worth $1,389,130 in the last quarter. 3.91% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Columbus McKinnon during the 3rd quarter worth approximately $141,000. Cubist Systematic Strategies LLC acquired a new position in Columbus McKinnon during the 3rd quarter worth approximately $202,000. Trexquant Investment LP acquired a new position in Columbus McKinnon during the 3rd quarter worth approximately $212,000. WealthTrust Axiom LLC acquired a new position in Columbus McKinnon during the 3rd quarter worth approximately $227,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Columbus McKinnon during the 3rd quarter worth approximately $246,000. Institutional investors own 85.08% of the company’s stock.

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