In a report released today, Christopher Howe from Barrington reiterated a Buy rating on Columbus Mckinnon (CMCO – Research Report), with a price target of $57.00. The company’s shares closed last Friday at $33.67, close to its 52-week low of $30.13.
According to TipRanks.com, Howe is a 4-star analyst with an average return of 11.2% and a 43.9% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as Commercial Vehicle Group, Standex International, and Helios Technologies.
Columbus Mckinnon has an analyst consensus of Moderate Buy, with a price target consensus of $46.80, which is a 39.0% upside from current levels. In a report issued on May 27, Seaport Global also maintained a Buy rating on the stock with a $50.00 price target.
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Based on Columbus Mckinnon’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $253 million and net profit of $11.83 million. In comparison, last year the company earned revenue of $186 million and had a net profit of $9.59 million.
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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.
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