Columbus McKinnon (NASDAQ:CMCO) Lowered to “Neutral” Rating by DA Davidson

Columbus McKinnon (NASDAQ:CMCO) was downgraded by stock analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They presently have a $35.00 target price on the industrial products company’s stock. DA Davidson’s target price points to a potential downside of 1.35% from the stock’s previous close.

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

Columbus McKinnon Trading Up 3.6 %

CMCO opened at $35.48 on Tuesday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 66.94 and a beta of 1.22. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. Columbus McKinnon has a 12 month low of $29.26 and a 12 month high of $45.84. The stock has a fifty day moving average price of $37.01 and a 200-day moving average price of $35.31.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (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%. As a group, equities research analysts anticipate that Columbus McKinnon will post 2.98 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher J. Stephens acquired 1,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $37.34 per share, with a total value of $37,340.00. Following the completion of the acquisition, the director now owns 6,014 shares of the company’s stock, valued at approximately $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CMCO. State of New Jersey Common Pension Fund D boosted its stake in shares of Columbus McKinnon by 31.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 58,444 shares of the industrial products company’s stock worth $2,104,000 after buying an additional 14,018 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Columbus McKinnon in the fourth quarter valued at approximately $26,416,000. Charles Schwab Investment Management Inc. lifted its position in shares of Columbus McKinnon by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,745 shares of the industrial products company’s stock valued at $14,067,000 after acquiring an additional 18,802 shares in the last quarter. Barclays PLC increased its holdings in shares of Columbus McKinnon by 214.6% in the third quarter. Barclays PLC now owns 52,987 shares of the industrial products company’s stock valued at $1,907,000 after purchasing an additional 36,147 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Columbus McKinnon by 152.8% during the third quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company’s stock worth $8,428,000 after acquiring an additional 141,502 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

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.