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

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday.

Columbus McKinnon Stock Down 41.2 %

NASDAQ CMCO traded down $14.61 during trading on Tuesday, reaching $20.87. The company's stock had a trading volume of 4,572,433 shares, compared to its average volume of 340,473. The business has a 50-day moving average price of $37.01 and a 200-day moving average price of $35.31. Columbus McKinnon has a 1-year low of $19.61 and a 1-year high of $45.84. The stock has a market capitalization of $598.76 million, a PE ratio of 39.38 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 (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.20% and a net margin of 1.51%. On average, research analysts forecast that Columbus McKinnon will post 2.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Columbus McKinnon news, Director Christopher J. Stephens bought 1,000 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $37.34 per share, for a total transaction of $37,340.00. Following the purchase, the director now directly owns 6,014 shares in the company, valued at $224,562.76. This trade represents a 19.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.98% of the company's stock.

Institutional Trading of Columbus McKinnon

A number of hedge funds have recently modified their holdings of the company. Mascoma Wealth Management LLC acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $25,000. Palouse Capital Management Inc. acquired a new position in Columbus McKinnon during the 3rd quarter worth $144,000. Millburn Ridgefield Corp bought a new position in Columbus McKinnon in the 3rd quarter valued at $155,000. Park Avenue Securities LLC acquired a new stake in shares of Columbus McKinnon in the 4th quarter valued at $239,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Columbus McKinnon in the 3rd quarter valued at $244,000. 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.