D.A. Davidson has reiterated a Neutral rating on Columbus McKinnon shares and included a price target in its recent coverage note. The firm said it raised certain model inputs after conducting further due diligence on the recently closed Kito Crosby acquisition and the pending sale of the company’s U.S. power chain hoist business.
The update to D.A. Davidson’s forecasts centers on operating expense assumptions. The firm said it revised projections to exclude nonrecurring profit and loss items tied to Kito Crosby along with other one-time costs that Columbus McKinnon is expected to remove from reported results on a non-GAAP basis. Those adjusted assumptions drove an upward move in the firm’s estimates compared with its previous update, though D.A. Davidson noted its estimates remain below the levels used in the model before Columbus McKinnon released third-quarter fiscal 2026 results earlier this month.
Analysts highlighted valuation metrics alongside the estimate changes. According to InvestingPro analysis, the company appears undervalued at current market levels based on a Fair Value assessment, even as the stock trades at a relatively high earnings multiple - the reported P/E ratio stands at 88.07.
The company’s recent quarterly results were stronger than expected. Columbus McKinnon posted adjusted earnings per share of $0.62 for fiscal third-quarter 2026, beating the consensus forecast of $0.58. Revenue came in at $258.7 million, above the $242.35 million analysts had anticipated. Management’s preliminary figures for the quarter had hinted at stronger performance, and the final reported numbers landed toward the high end of that range.
Within the firm’s coverage note the Neutral rating was reiterated alongside a price target. The commentary includes references to a $20.00 target in one section and, elsewhere in the reporting, a maintained $15.00 price target is also cited. The firm continues to cover Columbus McKinnon as part of its broader research universe, noting the stock among the U.S. equities encompassed by its Pro Research Reports.
Investors will also see forecast-level movement in the firm’s models: D.A. Davidson’s updated projections are higher than its prior post-close update, reflecting the exclusion of identified one-time charges, but they do not fully return to the pre-release model assumptions.
For market participants focused on valuation and near-term earnings, the combination of a reported earnings beat, upwardly revised estimates that still trail earlier internal models, and a high P/E multiple creates a mixed picture. The firm’s Neutral rating signals neither a buy nor a sell bias at the current market price, which was trading below one stated target level.
Contextual note: The firm incorporated revised non-GAAP operating expense assumptions into its model after additional diligence on the Kito Crosby acquisition and an anticipated divestiture of the U.S. power chain hoist business.