In a report released today, Christopher Howe from Barrington reiterated a Buy rating on Columbus Mckinnon (CMCO), with a price target of $50.00. The company’s shares closed last Monday at $35.06.
According to TipRanks.com, Howe is a 5-star analyst with an average return of 21.4% and a 52.9% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as Woodward, Harsco, and Kadant.
Currently, the analyst consensus on Columbus Mckinnon is a Moderate Buy with an average price target of $49.00.
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Based on Columbus Mckinnon’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $15.25 million. In comparison, last year the company had a GAAP net loss of $782K.
Based on the recent corporate insider activity of 121 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMCO in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Columbus McKinnon Corp. engages in the designing, manufacturing, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands. The company was founded in 1875 and is headquartered in Getzville, NY.