What’s Next for Columbus McKinnon Corporation (CMCO) After Reaching 52-Week High?

January 20, 2018 - By Michael Collier

Investors sentiment increased to 1.44 in Q3 2017. Its up 0.39, from 1.05 in 2017Q2. It is positive, as 14 investors sold Columbus McKinnon Corporation shares while 40 reduced holdings. 35 funds opened positions while 43 raised stakes. 19.43 million shares or 0.11% more from 19.41 million shares in 2017Q2 were reported.
Penn Cap holds 0.17% or 59,648 shares in its portfolio. Skyline Asset Mngmt Ltd Partnership reported 1.89% stake. California State Teachers Retirement System holds 0% or 34,694 shares. Nordea Investment Mgmt Ab stated it has 11,000 shares. Royal Bank & Trust Of Canada reported 2.72M shares. Ig Investment Management Limited reported 33,021 shares. Schwab Charles Inv Management Inc accumulated 149,823 shares or 0% of the stock. Point72 Asia (Hong Kong) Ltd invested 0% in Columbus McKinnon Corporation (NASDAQ:CMCO). Connor Clark Lunn, a British Columbia – Canada-based fund reported 24,450 shares. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Columbus McKinnon Corporation (NASDAQ:CMCO). Swiss Bank & Trust holds 0% or 34,011 shares. 94,227 are owned by Rutabaga Capital Limited Liability Ma. Pnc Services Grp Incorporated Inc holds 5,200 shares. Oberweis Asset Management has 39,700 shares for 0.42% of their portfolio. Thompson Siegel And Walmsley Limited Co reported 500 shares.

Since August 2, 2017, it had 0 insider purchases, and 10 insider sales for $4.04 million activity. $417,755 worth of stock was sold by Wozniak Kurt F on Tuesday, August 15. On Wednesday, August 2 the insider Buer Gene P sold $337,781. 8,770 shares valued at $281,956 were sold by TEVENS TIMOTHY T on Friday, August 4.

The stock of Columbus McKinnon Corporation (NASDAQ:CMCO) hit a new 52-week high and has $47.97 target or 8.00 % above today’s $44.42 share price. The 8 months bullish chart indicates low risk for the $1.02B company. The 1-year high was reported on Jan, 20 by Barchart.com. If the $47.97 price target is reached, the company will be worth $81.76M 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.

The stock increased 3.81% or $1.63 during the last trading session, reaching $44.42. About 191,883 shares traded or 47.80% up from the average. Columbus McKinnon Corporation (NASDAQ:CMCO) has risen 68.84% since January 20, 2017 and is uptrending. It has outperformed by 52.14% the S&P500.

Analysts await Columbus McKinnon Corporation (NASDAQ:CMCO) to report earnings on January, 25. They expect $0.31 earnings per share, up 40.91 % or $0.09 from last year’s $0.22 per share. CMCO’s profit will be $7.13M for 35.82 P/E if the $0.31 EPS becomes a reality. After $0.51 actual earnings per share reported by Columbus McKinnon Corporation for the previous quarter, Wall Street now forecasts -39.22 % negative EPS growth.

Columbus McKinnon Corporation (NASDAQ:CMCO) Ratings Coverage

Among 5 analysts covering Columbus McKinnon (NASDAQ:CMCO), 4 have Buy rating, 1 Sell and 0 Hold. Therefore 80% are positive. Columbus McKinnon had 10 analyst reports since July 29, 2015 according to SRatingsIntel. The stock of Columbus McKinnon Corporation (NASDAQ:CMCO) has “Neutral” rating given on Wednesday, December 7 by Sidoti. The stock has “Buy” rating by Sidoti on Wednesday, July 29. Seaport Global maintained Columbus McKinnon Corporation (NASDAQ:CMCO) rating on Wednesday, January 10. Seaport Global has “Buy” rating and $50.0 target. The stock of Columbus McKinnon Corporation (NASDAQ:CMCO) earned “Buy” rating by Sidoti on Thursday, January 26. The firm has “Neutral” rating given on Friday, January 15 by Seaport Global Securities. The stock has “Sell” rating by Zacks on Monday, September 21. The stock of Columbus McKinnon Corporation (NASDAQ:CMCO) earned “Neutral” rating by Seaport Global Securities on Monday, January 18. The firm has “Buy” rating by Roth Capital given on Thursday, November 2. Seaport Global Securities upgraded the stock to “Buy” rating in Monday, January 23 report. Roth Capital initiated it with “Buy” rating and $3300 target in Friday, July 28 report.

More notable recent Columbus McKinnon Corporation (NASDAQ:CMCO) news were published by: Businesswire.com which released: “Columbus McKinnon to Webcast Strategic Plan Briefing Presentation” on January 02, 2018, also Seekingalpha.com with their article: “Columbus McKinnon’s (CMCO) CEO Mark Morelli on Q2 2018 Results – Earnings Call …” published on October 31, 2017, Seekingalpha.com published: “Columbus McKinnon’s (CMCO) CEO Mark Morelli on Q1 2018 Results – Earnings Call …” on August 01, 2017. More interesting news about Columbus McKinnon Corporation (NASDAQ:CMCO) were released by: Globenewswire.com and their article: “Columbus McKinnon Introduces CM® Rocketâ„¢ Universal Pendant Control” published on August 08, 2017 as well as Businesswire.com‘s news article titled: “Columbus McKinnon Presents Strategic Plan “Blueprint 2021: Raising Expectations”” with publication date: January 09, 2018.

Columbus McKinnon Corporation designs, makes, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial end-user markets worldwide. The company has market cap of $1.02 billion. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists. It has a 49.52 P/E ratio. The firm also provides alloy and carbon steel chains; alloy chains under the Herc-Alloy brand; load chains and carbon steel welded-link chains; alloy and carbon steel closed-die forged chain attachments, including hooks, shackles, Hammerloks, and master links; eye, shank, and ramshorn lifting hooks; and carbon steel forged and stamped products, such as load binders, logging tools, and other securing devices.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.