Columbus McKinnon (NASDAQ:CMCO) Cut to Hold at StockNews.com

Columbus McKinnon (NASDAQ:CMCO) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Columbus McKinnon Price Performance

CMCO stock opened at $19.84 on Tuesday. Columbus McKinnon has a 12-month low of $19.55 and a 12-month high of $45.84. The firm has a 50 day moving average of $36.25 and a 200-day moving average of $35.08. The company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 0.50. The company has a market cap of $569.21 million, a price-to-earnings ratio of 37.43 and a beta of 1.22.

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

Institutional Investors Weigh In On Columbus McKinnon

Several hedge funds have recently bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new stake in shares of Columbus McKinnon in the third quarter valued at about $25,000. Palouse Capital Management Inc. bought a new stake in shares of Columbus McKinnon during the 3rd quarter worth approximately $144,000. Millburn Ridgefield Corp bought a new stake in Columbus McKinnon during the third quarter worth $155,000. Park Avenue Securities LLC acquired a new position in shares of Columbus McKinnon during the 4th quarter worth $239,000. Finally, SG Americas Securities LLC acquired a new stake in Columbus McKinnon in the third quarter valued at about $244,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

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.