The stock of Columbus McKinnon Corp. (NASDAQ:CMCO) hit a new 52-week high and has $28.89 target or 9.00% above today’s $26.50 share price. The 8 months bullish chart indicates low risk for the $543.23 million company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $28.89 price target is reached, the company will be worth $48.89M 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 22,496 shares traded hands. Columbus McKinnon Corp. (NASDAQ:CMCO) has risen 61.27% since April 28, 2016 and is uptrending. It has outperformed by 55.35% the S&P500.
Analysts await Columbus McKinnon Corp. (NASDAQ:CMCO) to report earnings on January, 26. They expect $0.37 earnings per share, up 15.63% or $0.05 from last year’s $0.32 per share. CMCO’s profit will be $7.58 million for 17.91 P/E if the $0.37 EPS becomes a reality. After $0.36 actual earnings per share 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 on Monday, September 21 to “Sell”. As per Wednesday, July 29, the company rating was upgraded by Sidoti. Seaport Global Securities downgraded the stock to “Neutral” rating in Friday, January 15 report. The company was downgraded on Monday, January 18 by Seaport Global Securities.
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 is positive, 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.
California Pub Employees Retirement System reported 75,200 shares or 0% of all its holdings. Walthausen And Limited Liability Co last reported 0.64% of its portfolio in the stock. Morgan Stanley has 48,672 shares for 0% of their US portfolio. Jpmorgan Chase has invested 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). Spitfire Llc last reported 3.34% of its portfolio in the stock. Goldman Sachs Grp Inc has 26,262 shares for 0% of their US portfolio. Rhumbline Advisers, a Massachusetts-based fund reported 30,202 shares. Blackrock Advsr Ltd Liability Corp last reported 0% of its portfolio in the stock. Macquarie Group Inc last reported 882,563 shares in the company. Systematic Financial Mgmt Lp holds 0.01% or 59,250 shares in its portfolio. Gru has 11,179 shares for 0% of their US portfolio. Citigroup last reported 0% of its portfolio in the stock. Price Michael F holds 155,000 shares or 0.29% of its portfolio. Teacher Retirement Systems Of Texas has invested 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO). Barrow Hanley Mewhinney And Strauss Ltd Limited Liability Company holds 0% of its portfolio in Columbus McKinnon Corp. (NASDAQ:CMCO) for 103,085 shares.
Insider Transactions: Since September 12, 2016, the stock had 0 buys, and 1 sale for $35,824 net activity. Korman Alan S also sold $35,824 worth of Columbus McKinnon Corp. (NASDAQ:CMCO) shares.
More notable recent Columbus McKinnon Corp. (NASDAQ:CMCO) news were published by: Globenewswire.com which released: “Columbus McKinnon Redefines Lever-Operated Hoists with New CM Tornado 360°” on November 29, 2016, also Bizjournals.com with their article: “Magnetek to be purchased by Columbus McKinnon Corp. for $188.9 million” published on July 27, 2015, Bizjournals.com published: “Columbus McKinnon CEO Tevens headed to retirement” on September 15, 2016. More interesting news about Columbus McKinnon Corp. (NASDAQ:CMCO) were released by: Globenewswire.com and their article: “Columbus McKinnon Completes Acquisition of Magnetek” published on September 02, 2015 as well as Fool.com‘s news article titled: “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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