JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Columbus McKinnon (NASDAQ:CMCO) Stock

Columbus McKinnon (NASDAQ:CMCO) had its price objective upped by analysts at JPMorgan Chase & Co. from $29.00 to $30.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 64.09% from the company’s previous close.

A number of other research analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Columbus McKinnon in a research report on Thursday, October 29th. Zacks Research cut shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.50.

Columbus McKinnon Stock Performance

Shares of CMCO stock traded up $0.13 during trading hours on Wednesday, reaching $18.28. 452,363 shares of the company’s stock were exchanged, compared to its average volume of 502,422. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. Columbus McKinnon has a 1 year low of $11.99 and a 1 year high of $24.40. The company’s 50 day moving average is $16.27 and its two-hundred day moving average is $16.54. The company has a market cap of $527.65 million, a P/E ratio of -2.44 and a beta of 1.49.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Tuesday, November 3rd. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.23. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The company had revenue of $539.29 million for the quarter, compared to analyst estimates of $518.65 million. During the same period in the prior year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 106.6% compared to the same quarter last year. Equities research analysts anticipate that Columbus McKinnon will post 2.00 EPS for the current fiscal year.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, Director Christopher Stephens purchased 2,750 shares of Columbus McKinnon stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $17.14 per share, with a total value of $47,135.00. Following the purchase, the director directly owned 22,317 shares in the company, valued at $382,513.38. This trade represents a 14.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Columbus McKinnon

A number of hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its holdings in Columbus McKinnon by 4.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 88,459 shares of the industrial products company’s stock valued at $1,410,000 after buying an additional 3,596 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Columbus McKinnon during the second quarter worth approximately $29,000. Squarepoint Ops LLC purchased a new stake in Columbus McKinnon during the second quarter worth approximately $1,225,000. Readystate Asset Management LP acquired a new stake in shares of Columbus McKinnon in the second quarter worth $675,000. Finally, Van Den Berg Management I Inc. increased its position in shares of Columbus McKinnon by 11.8% in the second quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock worth $8,089,000 after acquiring an additional 56,282 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon News Summary

Here are the key news stories impacting Columbus McKinnon this week:

• Positive Sentiment: Management raised its FY2027 outlook for net sales, adjusted EBITDA and adjusted EPS. It said integration of the Kito Crosby acquisition remains on track, with synergies arriving ahead of plan, and that growth came from both legacy Columbus McKinnon and Kito Crosby businesses. Company guidance announcement
• Positive Sentiment: The company’s 1.0x book-to-bill ratio indicates orders are converting to revenue at a solid pace, which management said supports continued progress in the second half of the fiscal year. Company guidance announcement
• Neutral Sentiment: The more-than-doubling of sales was driven substantially by the Kito Crosby acquisition, so the headline growth rate should not be read as entirely organic. The company nevertheless reported growth in both businesses. Outlook and revenue article
• Neutral Sentiment: CMCO also crossed above its 200-day moving average, a technical signal that may attract attention but does not by itself establish a fundamental trend. 200-day moving average article

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.