Columbus McKinnon Corp. (CMCO) Receives $46.67 Consensus Price Target from Analysts

Columbus McKinnon Corp. (NASDAQ:CMCO) has been assigned a consensus rating of “Buy” from the seven research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $46.67.

Several brokerages have weighed in on CMCO. ValuEngine raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. BidaskClub raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Roth Capital set a $44.00 price objective on Columbus McKinnon and gave the company a “buy” rating in a report on Saturday, February 2nd. Zacks Investment Research cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Seaport Global Securities began coverage on Columbus McKinnon in a report on Wednesday, January 23rd. They issued a “buy” rating and a $42.00 price objective for the company.

In other Columbus McKinnon news, VP Alan S. Korman sold 5,168 shares of Columbus McKinnon stock in a transaction on Monday, February 25th. The stock was sold at an average price of $37.90, for a total value of $195,867.20. Following the completion of the transaction, the vice president now directly owns 15,711 shares of the company’s stock, valued at approximately $595,446.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.27% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in shares of Columbus McKinnon by 219.6% during the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,298 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Columbus McKinnon by 14.5% during the 4th quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock worth $129,000 after buying an additional 541 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Columbus McKinnon by 15.4% during the 4th quarter. Citigroup Inc. now owns 7,189 shares of the industrial products company’s stock worth $217,000 after buying an additional 957 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Columbus McKinnon by 369.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,307 shares of the industrial products company’s stock worth $220,000 after buying an additional 5,752 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in shares of Columbus McKinnon during the 3rd quarter worth $222,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

CMCO traded down $0.38 during trading on Monday, hitting $39.69. The stock had a trading volume of 53,751 shares, compared to its average volume of 100,558. The company has a market capitalization of $926.96 million, a PE ratio of 19.75 and a beta of 1.76. 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 current ratio of 1.78 and a quick ratio of 1.01.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This is a boost from Columbus McKinnon’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.60%. Columbus McKinnon’s payout ratio is currently 9.95%.

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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