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 currently have a $35.00 target price on the industrial products company’s stock. DA Davidson’s price objective would indicate 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 report on Tuesday.

Columbus McKinnon Trading Up 3.6 %

NASDAQ:CMCO opened at $35.48 on Tuesday. The firm has a market cap of $1.02 billion, a PE ratio of 66.94 and a beta of 1.22. The stock has a fifty day moving average price of $37.01 and a 200 day moving average price of $35.31. Columbus McKinnon has a 12-month low of $29.26 and a 12-month high of $45.84. 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 (NASDAQ:CMCO) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. Sell-side analysts anticipate that Columbus McKinnon will post 2.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christopher J. Stephens purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $37.34 per share, with a total value of $37,340.00. Following the purchase, the director now directly owns 6,014 shares of the company’s stock, valued at $224,562.76. The trade was a 19.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Columbus McKinnon

Several institutional investors have recently modified their holdings of the company. Mascoma Wealth Management LLC purchased a new stake in Columbus McKinnon in the 3rd quarter valued at approximately $25,000. Palouse Capital Management Inc. purchased a new stake in Columbus McKinnon in the 3rd quarter valued at approximately $144,000. Millburn Ridgefield Corp purchased a new stake in Columbus McKinnon in the 3rd quarter valued at approximately $155,000. Park Avenue Securities LLC purchased a new stake in Columbus McKinnon in the 4th quarter valued at approximately $239,000. Finally, SG Americas Securities LLC purchased a new stake in Columbus McKinnon in the 3rd quarter valued at approximately $244,000. Hedge funds and other institutional investors 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.