The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) is a huge mover today! The stock increased 6.16% or $1.51 on November 23, hitting $26.04. About 98,718 shares traded hands or 41.19% up from the average. Columbus McKinnon Corp. (NASDAQ:CMCO) has risen 52.73% since April 22, 2016 and is uptrending. It has outperformed by 47.32% the S&P500.
The move comes after 6 months positive chart setup for the $538.09M company. It was reported on Nov, 24 by Barchart.com. We have $27.60 PT which if reached, will make NASDAQ:CMCO worth $32.29M more.
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 $7.65 million for 17.59 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 rating was downgraded by Zacks to “Sell” on Monday, September 21. The rating was downgraded by Seaport Global Securities to “Neutral” on Monday, January 18. The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) has “Buy” rating given on Wednesday, July 29 by Sidoti. The rating was downgraded by Seaport Global Securities on Friday, January 15 to “Neutral”.
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.
Tiaa Cref Management Ltd Llc reported 101,435 shares or 0% of all its holdings. Schwab Charles Invest Inc last reported 0% of its portfolio in the stock. Nationwide Fund Advsrs has invested 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). California State Teachers Retirement System has invested 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). Rutabaga Capital Limited Liability Co Ma reported 472,775 shares or 1.25% of all its holdings. Blackrock Institutional Na holds 550,850 shares or 0% of its portfolio. Royal National Bank & Trust Of Canada owns 2.64M shares or 0.02% of their US portfolio. Amer has invested 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). The New York-based Dc Capital Advsr Ltd has invested 0.41% in Columbus McKinnon Corp. (NASDAQ:CMCO). Tfs Lc accumulated 0.12% or 45,822 shares. Ladenburg Thalmann Fincl Service Inc has 104 shares for 0% of their US portfolio. The California-based Spitfire Cap Llc has invested 3.34% in Columbus McKinnon Corp. (NASDAQ:CMCO). Moreover, Morgan Dempsey Mgmt Ltd Company has 0.8% invested in Columbus McKinnon Corp. (NASDAQ:CMCO) for 167,759 shares. Gsa Capital Prtn Limited Liability Partnership holds 16,503 shares or 0.01% of its portfolio. Blackrock Incorporated, a New York-based fund reported 5,462 shares.
Insider Transactions: Since September 12, 2016, the stock had 0 buys, and 1 insider sale for $35,824 net activity. Shares for $35,824 were sold by Korman Alan S.
More notable recent Columbus McKinnon Corp. (NASDAQ:CMCO) news were published by: Bizjournals.com which released: “Magnetek to be purchased by Columbus McKinnon Corp. for $188.9 million” on July 27, 2015, also Globenewswire.com with their article: “Columbus McKinnon Completes Acquisition of Magnetek” published on September 02, 2015, Buffalonews.com published: “Tevens to retire as Columbus McKinnon CEO” on September 15, 2016. More interesting news about Columbus McKinnon Corp. (NASDAQ:CMCO) were released by: Fool.com and their article: “Columbus McKinnon Corp. Hoists Itself Above Its Competitors” published on February 19, 2014 as well as Streetinsider.com‘s news article titled: “Form 4 COLUMBUS MCKINNON CORP For: Nov 21 Filed by: TRUMBULL R SCOTT” with publication date: November 22, 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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