DA Davidson downgraded Columbus McKinnon (CMCO) to Neutral from Buy with a $35 price target after the company reported fiscal Q3 sales, EBITDA and adjusted EPS below the firm’s forecast and consensus as short-cycle activity stepped down notably during the quarter. The company also announced the acquisition of Kito Crosby, a global lifting/securement provider in a transaction valued at $2.7B, notes the analyst, who says attention turns to pro-forma leverage and the deal complexity and ownership structure. For now, the firm errs on “a more conservative posture as we see how this unfolds,” the analyst tells investors.
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Read More on CMCO:
- Columbus McKinnon Reports Q3 FY25 Financial Performance
- Columbus McKinnon Reports Q3 FY2025 Sales Decline
- Columbus McKinnon to acquire Kito Crosby in $2.7B all-cash transaction
- Columbus McKinnon sees FY25 adjusted EPS growth low-teens decrease y/y
- Columbus McKinnon reports Q3 adjusted EPS 56c, consensus 73c