Shares of Columbus McKinnon Corp. (NASDAQ:CMCO) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $49.67.
A number of brokerages have commented on CMCO. TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b” rating in a report on Wednesday, May 30th. BidaskClub lowered shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 4th. Zacks Investment Research lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, April 10th. Finally, Craig Hallum began coverage on shares of Columbus McKinnon in a report on Monday, May 14th. They issued a “buy” rating and a $49.00 price objective on the stock.
Get Columbus McKinnon alerts:Columbus McKinnon traded up $0.09, reaching $41.64, during trading on Friday, Marketbeat reports. The stock had a trading volume of 500 shares, compared to its average volume of 137,686. Columbus McKinnon has a 1-year low of $24.97 and a 1-year high of $45.85. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.74 and a quick ratio of 1.00. The firm has a market capitalization of $965.06 million, a P/E ratio of 20.72 and a beta of 1.88.
Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Wednesday, May 30th. The industrial products company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Columbus McKinnon had a net margin of 2.63% and a return on equity of 12.14%. The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $210.64 million. During the same quarter in the previous year, the business posted $0.40 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. sell-side analysts anticipate that Columbus McKinnon will post 2.48 EPS for the current year.
In other news, VP Gregory P. Rustowicz sold 3,271 shares of the business’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $42.13, for a total value of $137,807.23. Following the completion of the sale, the vice president now owns 45,366 shares of the company’s stock, valued at approximately $1,911,269.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.27% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Phocas Financial Corp. bought a new stake in shares of Columbus McKinnon in the 4th quarter worth about $5,710,000. Stone Ridge Asset Management LLC bought a new stake in shares of Columbus McKinnon in the 4th quarter worth about $804,000. Macquarie Group Ltd. increased its position in shares of Columbus McKinnon by 9.1% in the 4th quarter. Macquarie Group Ltd. now owns 1,063,241 shares of the industrial products company’s stock worth $42,508,000 after purchasing an additional 88,613 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Columbus McKinnon by 11.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 57,808 shares of the industrial products company’s stock worth $2,311,000 after purchasing an additional 6,078 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Columbus McKinnon in the 4th quarter worth about $281,000. 91.99% 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.
Featured Story: How Short Selling Works
No comments:
Post a Comment