Columbus McKinnon Corp. (CMCO) Forms Bullish Double Top; Strong Momentum for Buyers Coming

June 19, 2017 - By Hazel Jackson

Investors sentiment increased to 1.8 in 2016 Q4. Its up 0.23, from 1.57 in 2016Q3. It improved, as 7 investors sold Columbus McKinnon Corp. shares while 33 reduced holdings. 31 funds opened positions while 41 raised stakes. 16.39 million shares or 0.69% more from 16.28 million shares in 2016Q3 were reported.
Foundry Prns Limited Liability reported 251,850 shares. Deutsche Bancorp Ag stated it has 11,393 shares or 0% of all its holdings. Blackrock Grp Inc Ltd reported 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). Systematic Financial Mgmt Ltd Partnership stated it has 73,550 shares or 0.03% of all its holdings. Alliancebernstein Lp stated it has 8,700 shares. Engineers Gate Manager L P holds 15,965 shares or 0.05% of its portfolio. Art Advisors Ltd has invested 0.02% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). 39,539 were accumulated by Goldman Sachs. Renaissance Techs Limited Liability Corp holds 0% or 59,500 shares. Barclays Public Limited has 269 shares for 0% of their portfolio. Tiaa Cref Invest Management has invested 0% in Columbus McKinnon Corp. (NASDAQ:CMCO). The Georgia-based Invesco Limited has invested 0% in Columbus McKinnon Corp. (NASDAQ:CMCO). Barrow Hanley Mewhinney And Strauss reported 101,832 shares stake. Peak6 Invs L P reported 0% in Columbus McKinnon Corp. (NASDAQ:CMCO). Citigroup reported 0% stake.

Since June 1, 2017, it had 0 buys, and 3 insider sales for $123,952 activity.

The chart of Columbus McKinnon Corp. (CMCO) shows a double top with $29.39 target or 7.00 % above today’s $27.47 share price. The 8 months chart pattern indicates low risk for the $612.19 million company. It was reported on Jun, 19 by Finviz.com. If the $29.39 price target is reached, the company will be worth $42.85M more. Double tops are rare but powerful chart patterns.

About 2,043 shares traded. Columbus McKinnon Corp. (NASDAQ:CMCO) has risen 68.84% since June 19, 2016 and is uptrending. It has outperformed by 52.14% the S&P500.

Columbus McKinnon Corp. (NASDAQ:CMCO) Ratings Coverage

Among 3 analysts covering Columbus McKinnon (NASDAQ:CMCO), 2 have Buy rating, 1 Sell and 0 Hold. Therefore 67% are positive. Columbus McKinnon had 7 analyst reports since July 29, 2015 according to SRatingsIntel. Sidoti upgraded the stock to “Buy” rating in Thursday, January 26 report. Seaport Global Securities downgraded the shares of CMCO in report on Friday, January 15 to “Neutral” rating. On Monday, January 18 the stock rating was downgraded by Seaport Global Securities to “Neutral”. The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) earned “Buy” rating by Seaport Global Securities on Monday, January 23. The rating was upgraded by Sidoti on Wednesday, July 29 to “Buy”. The firm has “Neutral” rating by Sidoti given on Wednesday, December 7. The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) earned “Sell” rating by Zacks on Monday, September 21.

More notable recent Columbus McKinnon Corp. (NASDAQ:CMCO) news were published by: Globenewswire.com which released: “Columbus McKinnon Completes Acquisition of Magnetek” on September 02, 2015, also Globenewswire.com with their article: “Columbus McKinnon Completes Acquisition of STAHL CraneSystems” published on January 31, 2017, Bizjournals.com published: “Mark Morelli named new CEO at Columbus McKinnon Corp.” on February 28, 2017. More interesting news about Columbus McKinnon Corp. (NASDAQ:CMCO) were released by: Seekingalpha.com and their article: “Columbus McKinnon: Turning The Corner” published on June 12, 2017 as well as Globenewswire.com‘s news article titled: “Columbus McKinnon Raises $50.0 million in Equity Financing” with publication date: December 19, 2016.

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