Columbus McKinnon Corporation (NASDAQ:CMCO) , which is a broad-line designer, manufacturer and supplier of material handling products, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CMCO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Columbus McKinnon could be a solid choice for investors.
Current Quarter Estimates for CMCO
In the past 30 days, one estimate has gone higher for Columbus McKinnon while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 39 cents a share 30 days ago, to 45 cents today, a move of 15.4%.
Current Year Estimates for CMCO
Meanwhile, Columbus McKinnon’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.73 per share 30 days ago to $1.93 per share today, an increase of 11.6%.
Columbus McKinnon Corporation Price and Consensus
Bottom Line
The stock has also started to move higher lately, adding 19.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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Columbus McKinnon Corporation (CMCO): Free Stock Analysis Report
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