Worth Watching: Could Columbus McKinnon Corp. Lose its Strength? The Stock Reaches 52-Week High

Worth Watching: Could Columbus McKinnon Corp. Lose its Strength? The Stock Reaches 52 Week High

The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) hit a new 52-week high and has $27.58 target or 7.00% above today’s $25.78 share price. The 9 months bullish chart indicates low risk for the $532.72M company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $27.58 price target is reached, the company will be worth $37.29 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 50,846 shares traded hands. Columbus McKinnon Corp. (NASDAQ:CMCO) has risen 44.89% since April 21, 2016 and is uptrending. It has outperformed by 39.56% the S&P500.

Analysts await Columbus McKinnon Corp. (NASDAQ:CMCO) to report earnings on January, 26. They expect $0.37 EPS, up 15.63% or $0.05 from last year’s $0.32 per share. CMCO’s profit will be $7.65M for 17.42 P/E if the $0.37 EPS becomes a reality. After $0.36 actual EPS reported by Columbus McKinnon Corp. for the previous quarter, Wall Street now forecasts 2.78% EPS growth.

Columbus McKinnon Corp. (NASDAQ:CMCO) Ratings Coverage

Out of 3 analysts covering Columbus McKinnon (NASDAQ:CMCO), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. Columbus McKinnon has been the topic of 4 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, July 29 by Sidoti. The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) has “Neutral” rating given on Monday, January 18 by Seaport Global Securities. On Monday, September 21 the stock rating was downgraded by Zacks to “Sell”. The rating was downgraded by Seaport Global Securities to “Neutral” on Friday, January 15.

According to Zacks Investment Research, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users.”

Insitutional Activity: The institutional sentiment increased to 1.57 in 2016 Q2. Its up 0.33, from 1.24 in 2016Q1. The ratio improved, as 6 funds sold all Columbus McKinnon Corp. shares owned while 31 reduced positions. 8 funds bought stakes while 38 increased positions. They now own 15.77 million shares or 5.47% less from 16.69 million shares in 2016Q1.
Pnc Fincl Service Gru Incorporated holds 1,333 shares or 0% of its portfolio. Dc Advisors Limited holds 50,000 shares or 0.41% of its portfolio. Panagora Asset Mgmt Incorporated has 1,832 shares for 0% of their US portfolio. Royal Bank & Trust Of Canada accumulated 0.02% or 2.64M shares. Teton Advsrs has invested 0.16% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). Fifth Third Fincl Bank last reported 818 shares in the company. Gsa Partners Ltd Liability Partnership owns 16,503 shares or 0.01% of their US portfolio. Schwab Charles Inv Management holds 0% or 64,329 shares in its portfolio. Babson Cap Management Limited Liability Co, a Massachusetts-based fund reported 35,100 shares. Envestnet Asset Inc has 0% invested in the company for 3,548 shares. First Mercantile Trust holds 0.01% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO) for 6,264 shares. Goldman Sachs Group Inc has 0% invested in the company for 26,262 shares. Legal General Grp Inc Plc accumulated 0% or 2,954 shares. Citigroup holds 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO) for 10,828 shares. Systematic Management L P accumulated 0.01% or 59,250 shares.

Insider Transactions: Since September 12, 2016, the stock had 0 insider buys, and 1 sale for $35,824 net activity. Korman Alan S sold 2,000 shares worth $35,824.

More important recent Columbus McKinnon Corp. (NASDAQ:CMCO) news were published by: Streetinsider.com which released: “Form 4 COLUMBUS MCKINNON CORP For: Nov 21 Filed by: TRUMBULL R SCOTT” on November 22, 2016, also Bizjournals.com published article titled: “Magnetek to be purchased by Columbus McKinnon Corp. for $188.9 million”, Globenewswire.com published: “Columbus McKinnon Completes Acquisition of Magnetek” on September 02, 2015. More interesting news about Columbus McKinnon Corp. (NASDAQ:CMCO) was released by: Buffalonews.com and their article: “Tevens to retire as Columbus McKinnon CEO” with publication date: September 15, 2016.

CMCO Company Profile

Columbus McKinnon Corporation, incorporated on October 23, 1929, is a global designer, maker and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems. These products are typically manufactured for stock or assembled to order from standard components and are sold primarily through various commercial distributors and to a lesser extent, directly to end users. The diverse end users of its products are in various industries, including manufacturing, power generation and distribution, utilities, wind power, warehouses, commercial construction, gas and oil exploration and refining, petrochemical, marine, ship building, transportation and heavy duty trucking, agriculture, logging and mining. It also serves entertainment industry, including permanent and traveling concerts, live theater and sporting venues.

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