Pivotal Research reiterated their buy rating on shares of Columbia Sportswear Company (NASDAQ:COLM) in a research note released on Friday, October 27th, Marketbeat Ratings reports. The brokerage currently has a $74.00 price objective on the textile maker’s stock, up from their previous price objective of $72.00.
“We can appreciate COLM’s desire to remain conservative with its guidance, but the one thing that immediately jumps out at us on the default guidance is that 4Q SG&A is planned up 80bp (or $20M) to get to COLM’s FY17 SG&A outlook, and we believe the company will likely do better than this.”,” the firm’s analyst wrote.
Other equities research analysts have also issued reports about the stock. FBR & Co reiterated a buy rating and set a $68.00 price target on shares of Columbia Sportswear in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Columbia Sportswear from a hold rating to a sell rating in a research report on Monday, July 24th. Buckingham Research reaffirmed a neutral rating and issued a $58.00 target price on shares of Columbia Sportswear in a report on Monday, July 17th. Canaccord Genuity set a $60.00 price objective on shares of Columbia Sportswear and gave the stock a hold rating in a report on Tuesday, July 25th. Finally, Cowen and Company set a $58.00 target price on shares of Columbia Sportswear and gave the stock a hold rating in a research report on Wednesday, July 19th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $64.92.
Columbia Sportswear (NASDAQ COLM) traded up $0.39 during trading hours on Friday, hitting $62.52. 124,100 shares of the company were exchanged, compared to its average volume of 253,886. Columbia Sportswear has a 1 year low of $51.56 and a 1 year high of $67.60. The stock has a market cap of $4,400.00, a PE ratio of 22.27, a P/E/G ratio of 2.36 and a beta of 0.85.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.10. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.30%. The business had revenue of $747.37 million for the quarter, compared to analyst estimates of $735.67 million. During the same period last year, the business earned $1.18 EPS. The company’s revenue was up .2% on a year-over-year basis. analysts forecast that Columbia Sportswear will post 2.71 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 15th. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.18. Columbia Sportswear’s dividend payout ratio is currently 25.81%.
In other Columbia Sportswear news, Director Malia H. Wasson sold 900 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $61.68, for a total value of $55,512.00. Following the completion of the transaction, the director now directly owns 1,089 shares in the company, valued at $67,169.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward S. George sold 6,664 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $56.90, for a total transaction of $379,181.60. Following the completion of the sale, the director now directly owns 8,664 shares of the company’s stock, valued at $492,981.60. The disclosure for this sale can be found here. Corporate insiders own 58.86% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of COLM. BlackRock Inc. grew its holdings in Columbia Sportswear by 78,608.2% during the first quarter. BlackRock Inc. now owns 1,635,556 shares of the textile maker’s stock valued at $96,089,000 after purchasing an additional 1,633,478 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Columbia Sportswear by 31.7% during the first quarter. Vanguard Group Inc. now owns 2,774,168 shares of the textile maker’s stock valued at $162,982,000 after acquiring an additional 667,856 shares during the period. Renaissance Technologies LLC bought a new position in shares of Columbia Sportswear in the first quarter valued at about $16,239,000. American Century Companies Inc. raised its holdings in shares of Columbia Sportswear by 38.4% in the second quarter. American Century Companies Inc. now owns 576,986 shares of the textile maker’s stock valued at $33,500,000 after buying an additional 160,070 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Columbia Sportswear by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 1,789,254 shares of the textile maker’s stock valued at $108,662,000 after buying an additional 148,269 shares during the last quarter. 39.18% of the stock is owned by institutional investors and hedge funds.
Columbia Sportswear Company Profile
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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