Stock On Watch: Is Columbus McKinnon Corp. a Buy? The Stock Reaches 52-Week High Today

Stock On Watch: Is Columbus McKinnon Corp. a Buy? The Stock Reaches 52 Week High Today

The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) hit a new 52-week high and has $40.68 target or 85.00% above today’s $21.99 share price. The 6 months bullish chart indicates low risk for the $450.66M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $40.68 price target is reached, the company will be worth $383.06M 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 64,367 shares traded hands or 62.16% up from the average. Columbus McKinnon Corp. (NASDAQ:CMCO) has risen 35.67% since April 7, 2016 and is uptrending. It has outperformed by 30.88% the S&P500.

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. Seaport Global Securities downgraded the shares of CMCO in a report on Friday, January 15 to “Neutral” rating. The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) earned “Buy” rating by Sidoti on Wednesday, July 29. As per Monday, January 18, the company rating was downgraded by Seaport Global Securities. The firm has “Sell” rating given on Monday, September 21 by Zacks.

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 decreased to 1.24 in 2016 Q2. Its down 0.59, from 1.83 in 2016Q1. The ratio is negative, 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.
The Michigan-based Arcadia Investment Mgmt Mi has invested 0.01% in Columbus McKinnon Corp. (NASDAQ:CMCO). Teton Inc last reported 0.16% of its portfolio in the stock. Rbf Capital Ltd Liability Com has 0.14% invested in the company for 50,140 shares. Bridgeway Cap Management Inc reported 39,200 shares or 0.01% of all its holdings. Pzena Inv Mgmt Limited, a New York-based fund reported 1.52 million shares. Price Michael F holds 155,000 shares or 0.29% of its portfolio. Citigroup Incorporated holds 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO) for 10,828 shares. Eagle Boston Management, a Massachusetts-based fund reported 289,818 shares. Envestnet Asset Management reported 3,548 shares or 0% of all its holdings. Moreover, Victory Management has 0% invested in Columbus McKinnon Corp. (NASDAQ:CMCO) for 43,850 shares. The New York-based Morgan Stanley has invested 0% in Columbus McKinnon Corp. (NASDAQ:CMCO). Skyline Asset Mngmt Lp, a Illinois-based fund reported 656,450 shares. Lsv Asset Mgmt holds 561,171 shares or 0.02% of its portfolio. Sei Invs Communication reported 3 shares or 0% of all its holdings. State Street Corp has 308,765 shares for 0% of their US portfolio.

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

More important 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 published article titled: “Columbus McKinnon Completes Acquisition of Magnetek”, Buffalonews.com published: “Tevens to retire as Columbus McKinnon CEO” on September 15, 2016. More interesting news about Columbus McKinnon Corp. (NASDAQ:CMCO) was released by: Fool.com and their article: “Columbus McKinnon Corp. Hoists Itself Above Its Competitors” with publication date: February 19, 2014.

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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