Columbus McKinnon’s (CMCO) Neutral Rating Reiterated at DA Davidson

Columbus McKinnon (NASDAQ:CMCO)‘s stock had its “neutral” rating reaffirmed by analysts at DA Davidson in a research note issued to investors on Tuesday. They currently have a $35.00 price target on the industrial products company’s stock. DA Davidson’s price target would suggest a potential upside of 70.48% from the company’s previous close.

Separately, StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Columbus McKinnon Stock Performance

Columbus McKinnon stock traded up $0.05 on Tuesday, hitting $20.53. The company’s stock had a trading volume of 128,262 shares, compared to its average volume of 427,575. The company has a fifty day moving average price of $35.08 and a 200-day moving average price of $34.67. The firm has a market cap of $589.01 million, a P/E ratio of 38.74 and a beta of 1.22. Columbus McKinnon has a one year low of $19.55 and a one year high of $45.84. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 9.20% and a net margin of 1.51%. On average, equities analysts anticipate that Columbus McKinnon will post 2.98 earnings per share for the current year.

Insider Buying and Selling at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 5,000 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $20.27 per share, for a total transaction of $101,350.00. Following the transaction, the director now owns 11,014 shares of the company’s stock, valued at $223,253.78. The trade was a 83.14 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Columbus McKinnon

Several hedge funds have recently modified their holdings of the stock. Mascoma Wealth Management LLC acquired a new position in Columbus McKinnon during the 3rd quarter worth $25,000. Sterling Capital Management LLC raised its position in shares of Columbus McKinnon by 810.0% during the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 810 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Columbus McKinnon during the third quarter valued at $155,000. Park Avenue Securities LLC bought a new position in Columbus McKinnon in the fourth quarter valued at about $239,000. Finally, Freestone Grove Partners LP bought a new stake in Columbus McKinnon during the 4th quarter worth about $242,000. 95.96% of the stock is owned by institutional investors.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.