Columbus McKinnon (CMCO) Downgraded by ValuEngine to “Sell”

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

Several other research firms also recently issued reports on CMCO. Roth Capital set a $44.00 price objective on shares of Columbus McKinnon and gave the company a “buy” rating in a report on Saturday, February 2nd. Zacks Investment Research downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Seaport Global Securities initiated coverage on shares of Columbus McKinnon in a report on Wednesday, January 23rd. They set a “buy” rating and a $42.00 price objective on the stock. Finally, BidaskClub raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.50.

CMCO stock opened at $33.70 on Friday. The firm has a market cap of $816.55 million, a P/E ratio of 16.77 and a beta of 1.78. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Columbus McKinnon has a one year low of $27.66 and a one year high of $45.85.

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

In other Columbus McKinnon news, VP Alan S. Korman sold 5,168 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $37.90, for a total transaction of $195,867.20. Following the transaction, the vice president now directly owns 15,711 shares of the company’s stock, valued at $595,446.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.27% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC lifted its holdings in Columbus McKinnon by 219.6% during the fourth quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,298 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Columbus McKinnon by 14.5% in the fourth 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. LPL Financial LLC purchased a new position in shares of Columbus McKinnon in the third quarter worth about $222,000. Citigroup Inc. lifted its stake in shares of Columbus McKinnon by 15.4% in the fourth 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. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Columbus McKinnon by 369.9% in the fourth 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. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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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