Columbus McKinnon (NASDAQ:CMCO) has been given a $54.00 price objective by research analysts at Craig Hallum in a research report issued on Tuesday, October 30th, The Fly reports. The firm presently has a “buy” rating on the industrial products company’s stock. Craig Hallum’s target price points to a potential upside of 58.36% from the stock’s current price.
Several other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. ValuEngine upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Columbus McKinnon currently has a consensus rating of “Buy” and an average price target of $47.00.
Shares of NASDAQ:CMCO traded up $0.14 on Tuesday, hitting $34.10. The stock had a trading volume of 66,100 shares, compared to its average volume of 143,517. Columbus McKinnon has a twelve month low of $29.70 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.05 and a current ratio of 1.85. The company has a market capitalization of $792.83 million, a PE ratio of 16.97 and a beta of 1.75.
Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The company had revenue of $217.14 million for the quarter, compared to the consensus estimate of $218.91 million. Columbus McKinnon had a net margin of 2.49% and a return on equity of 13.88%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. On average, analysts forecast that Columbus McKinnon will post 2.64 EPS for the current year.
Several hedge funds have recently made changes to their positions in CMCO. Eqis Capital Management Inc. bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at about $204,000. WealthTrust Axiom LLC bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at about $216,000. LPL Financial LLC bought a new stake in shares of Columbus McKinnon in the 3rd quarter valued at about $222,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at about $225,000. Finally, United Services Automobile Association bought a new stake in Columbus McKinnon during the 2nd quarter worth approximately $280,000. 95.57% 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.
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