ValuEngine upgraded shares of Columbus McKinnon (NASDAQ:CMCO) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.
A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Columbus McKinnon from a hold rating to a buy rating and set a $46.00 target price on the stock in a report on Thursday, August 2nd. BidaskClub lowered Columbus McKinnon from a hold rating to a sell rating in a report on Saturday, July 14th. TheStreet upgraded Columbus McKinnon from a c+ rating to a b rating in a report on Wednesday, May 30th. Finally, Craig Hallum assumed coverage on Columbus McKinnon in a report on Monday, May 14th. They issued a buy rating and a $49.00 target price on the stock. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Columbus McKinnon currently has a consensus rating of Buy and an average price target of $48.75.
CMCO stock opened at $41.80 on Tuesday. Columbus McKinnon has a twelve month low of $31.84 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.04 and a current ratio of 1.84. The company has a market capitalization of $982.55 million, a PE ratio of 19.19 and a beta of 1.87.
Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, July 31st. The industrial products company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.14. Columbus McKinnon had a return on equity of 13.04% and a net margin of 2.10%. The company had revenue of $224.99 million for the quarter, compared to analyst estimates of $219.22 million. During the same quarter last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. equities research analysts anticipate that Columbus McKinnon will post 2.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 20th. Stockholders of record on Friday, August 10th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.48%. Columbus McKinnon’s dividend payout ratio is presently 9.95%.
Several institutional investors and hedge funds have recently modified their holdings of CMCO. SG Americas Securities LLC purchased a new stake in shares of Columbus McKinnon during the first quarter valued at approximately $109,000. Eqis Capital Management Inc. purchased a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $204,000. WealthTrust Axiom LLC purchased a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $216,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $225,000. Finally, Global X Management Co. LLC increased its position in shares of Columbus McKinnon by 139.9% during the first quarter. Global X Management Co. LLC now owns 6,800 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 3,965 shares during the last quarter. 96.33% of the stock is owned by institutional investors.
Columbus McKinnon Company Profile
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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