ValuEngine Upgrades Columbus McKinnon (CMCO) to Hold

Columbus McKinnon (NASDAQ:CMCO) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

Several other research firms have also recently commented on CMCO. BidaskClub cut Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Craig Hallum set a $54.00 target price on Columbus McKinnon and gave the company a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.00.

CMCO opened at $35.16 on Wednesday. Columbus McKinnon has a 12 month low of $29.70 and a 12 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 $706.31 million, a P/E ratio of 17.49 and a beta of 1.85.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Columbus McKinnon had a return on equity of 13.04% and a net margin of 2.10%. The firm had revenue of $217.14 million for the quarter, compared to analysts’ expectations of $218.91 million. During the same period last year, the firm earned $0.51 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. As a group, research analysts expect that Columbus McKinnon will post 2.48 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Global X Management Co LLC increased its position in shares of Columbus McKinnon by 19.0% during the 2nd quarter. Global X Management Co LLC now owns 8,092 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 1,292 shares during the period. FMR LLC acquired a new position in shares of Columbus McKinnon during the 2nd quarter valued at $9,651,000. Citadel Advisors LLC increased its position in shares of Columbus McKinnon by 274.7% during the 2nd quarter. Citadel Advisors LLC now owns 34,738 shares of the industrial products company’s stock valued at $1,507,000 after purchasing an additional 25,467 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Columbus McKinnon during the 2nd quarter valued at $225,000. Finally, Renaissance Technologies LLC increased its position in shares of Columbus McKinnon by 23.4% during the 2nd quarter. Renaissance Technologies LLC now owns 242,085 shares of the industrial products company’s stock valued at $10,497,000 after purchasing an additional 45,900 shares during the period. Institutional investors own 94.17% of the company’s stock.

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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