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

Zacks Investment Research cut shares of Columbus McKinnon (NASDAQ:CMCO) from a buy rating to a hold rating in a report issued on Tuesday morning.

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

Shares of Columbus McKinnon (NASDAQ CMCO) traded down $0.46 during mid-day trading on Tuesday, reaching $40.20. 38,379 shares of the company’s stock traded hands, compared to its average volume of 110,045. The stock has a market cap of $935.12, a PE ratio of 47.29 and a beta of 1.91. Columbus McKinnon has a 1-year low of $22.88 and a 1-year high of $41.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.18 and a current ratio of 1.96.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $203.27 million. Columbus McKinnon had a net margin of 2.65% and a return on equity of 10.95%. The business’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. research analysts forecast that Columbus McKinnon will post 1.95 EPS for the current fiscal year.

In other news, VP Gene P. Buer sold 30,529 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $38.00, for a total transaction of $1,160,102.00. Following the sale, the vice president now directly owns 17,136 shares in the company, valued at approximately $651,168. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alan S. Korman sold 1,558 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $40.10, for a total transaction of $62,475.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,254 shares of company stock worth $1,389,130. Corporate insiders own 3.91% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $141,000. Laurion Capital Management LP purchased a new stake in shares of Columbus McKinnon during the 2nd quarter valued at about $202,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $202,000. Trexquant Investment LP purchased a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $212,000. Finally, WealthTrust Axiom LLC purchased a new stake in shares of Columbus McKinnon during the 3rd quarter valued at about $227,000. Hedge funds and other institutional investors own 85.08% of the company’s stock.

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