Columbus McKinnon (NASDAQ:CMCO) Stock Rating Lowered by StockNews.com

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

Columbus McKinnon Trading Down 4.9 %

Shares of Columbus McKinnon 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 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’s 50-day moving average price is $36.25 and its 200-day moving average price is $35.08. 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 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, equities analysts expect that Columbus McKinnon will post 2.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Columbus McKinnon

Institutional investors have recently made changes to their positions in the company. Mascoma Wealth Management LLC purchased a new position in shares of Columbus McKinnon during the 3rd quarter worth $25,000. Palouse Capital Management Inc. purchased a new stake in Columbus McKinnon during the third quarter worth about $144,000. Millburn Ridgefield Corp purchased a new stake in Columbus McKinnon during the third quarter worth about $155,000. Park Avenue Securities LLC purchased a new stake in shares of Columbus McKinnon during the fourth quarter worth approximately $239,000. Finally, SG Americas Securities LLC purchased a new stake in Columbus McKinnon in the 3rd quarter valued at about $244,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

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.