Analysts Set Columbus McKinnon Corporation (NASDAQ:CMCO) PT at $22.00

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $22.00.

A number of research analysts have recently commented on the stock. Weiss Ratings cut shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, DA Davidson cut their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th.

Institutional Investors Weigh In On Columbus McKinnon

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC increased its holdings in Columbus McKinnon by 122.6% in the 1st quarter. Empowered Funds LLC now owns 262,129 shares of the industrial products company’s stock worth $3,809,000 after purchasing an additional 144,351 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Columbus McKinnon during the first quarter worth about $535,000. Quantinno Capital Management LP grew its holdings in shares of Columbus McKinnon by 25.8% during the first quarter. Quantinno Capital Management LP now owns 101,139 shares of the industrial products company’s stock worth $1,470,000 after purchasing an additional 20,714 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Columbus McKinnon in the first quarter valued at approximately $2,756,000. Finally, Van Den Berg Management I Inc. increased its stake in shares of Columbus McKinnon by 26.2% in the first quarter. Van Den Berg Management I Inc. now owns 478,328 shares of the industrial products company’s stock valued at $6,950,000 after buying an additional 99,309 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $14.41 on Tuesday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.98 and a current ratio of 2.02. Columbus McKinnon has a 52 week low of $11.99 and a 52 week high of $24.40. The stock has a market capitalization of $415.44 million, a P/E ratio of -2.63 and a beta of 1.38. The stock has a fifty day moving average of $14.86 and a 200-day moving average of $16.90.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). The business had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.57 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The business’s quarterly revenue was up 77.3% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, sell-side analysts expect that Columbus McKinnon will post 1.73 earnings per share for the current fiscal year.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.