Columbus McKinnon (CMCO) Upgraded at BidaskClub

Columbus McKinnon (NASDAQ:CMCO) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, October 30th. Craig Hallum set a $54.00 price target on shares of Columbus McKinnon and gave the company a “buy” rating in a report on Tuesday, October 30th. Seaport Global Securities initiated coverage on shares of Columbus McKinnon in a report on Wednesday, January 23rd. They issued a “buy” rating and a $42.00 price target on the stock. Roth Capital set a $44.00 price target on shares of Columbus McKinnon and gave the company a “buy” rating in a report on Saturday, February 2nd. Finally, ValuEngine raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $44.50.

NASDAQ:CMCO opened at $37.96 on Wednesday. Columbus McKinnon has a one year low of $27.66 and a one year high of $45.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.78. The firm has a market capitalization of $891.27 million, a price-to-earnings ratio of 18.89 and a beta of 1.76.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. The company had revenue of $217.42 million for the quarter, compared to analyst estimates of $215.05 million. Sell-side analysts anticipate that Columbus McKinnon will post 2.63 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Columbus McKinnon by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,573,627 shares of the industrial products company’s stock worth $47,429,000 after acquiring an additional 60,612 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Columbus McKinnon by 1.0% during the 4th quarter. BlackRock Inc. now owns 1,568,705 shares of the industrial products company’s stock worth $47,281,000 after acquiring an additional 15,668 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Columbus McKinnon by 17.4% during the 4th quarter. Macquarie Group Ltd. now owns 1,503,022 shares of the industrial products company’s stock worth $45,301,000 after acquiring an additional 222,399 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Columbus McKinnon by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 919,878 shares of the industrial products company’s stock worth $36,371,000 after acquiring an additional 7,488 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Columbus McKinnon by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 919,878 shares of the industrial products company’s stock worth $36,371,000 after acquiring an additional 7,488 shares in the last quarter. 96.34% of the stock is currently owned by institutional investors and hedge funds.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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