Columbus McKinnon (NASDAQ:CMCO) Receives “Neutral” Rating from DA Davidson

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

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

Columbus McKinnon Stock Performance

NASDAQ CMCO traded up $0.05 on Tuesday, hitting $20.53. The stock had a trading volume of 128,262 shares, compared to its average volume of 427,575. The company’s 50-day moving average is $35.08 and its two-hundred day moving average is $34.67. Columbus McKinnon has a one year low of $19.55 and a one year high of $45.84. The stock has a market cap of $589.01 million, a price-to-earnings ratio of 38.74 and a beta of 1.22. 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 posted its earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. On average, analysts expect that Columbus McKinnon will post 2.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Christopher J. Stephens purchased 5,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the transaction, the director now directly owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mascoma Wealth Management LLC bought a new stake in Columbus McKinnon during the 3rd quarter valued at approximately $25,000. Sterling Capital Management LLC increased its position in 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 period. Millburn Ridgefield Corp bought a new stake in Columbus McKinnon in the 3rd quarter valued at $155,000. Park Avenue Securities LLC acquired a new stake in Columbus McKinnon in the 4th quarter worth $239,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Columbus McKinnon during the fourth quarter valued at about $242,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Company Profile

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.