Zacks Investment Research upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a hold rating to a buy rating in a report published on Tuesday, January 9th. The brokerage currently has $81.00 price target on the textile maker’s stock.
According to Zacks, “Shares of Columbia Sportswear have outperformed the industry in the past year on the back of a solid surprise history and sturdy performance of the company’s European wholesale and U.S. direct-to-consumer businesses. In fact, the company’s top- and bottom-line results in the third quarter of 2017 were primarily driven by improved sales in all international regions. Incidentally, the company is on track with Project CONNECT initiative to drive revenues, capture efficiencies, improve marketing processes and lower SG&A costs. Further as part of the company’s marketing initiatives, it has developed several shop-in-shops and enhanced the number of brand presentations in key partner store locations. However, the company has been facing challenges in the U.S. region, especially on its wholesale front. Moreover, the company remains prone to headwinds such as volatility in the prices of several raw materials and currency fluctuations.”
Other analysts have also recently issued research reports about the stock. Robert W. Baird restated a buy rating and issued a $68.00 price objective on shares of Columbia Sportswear in a research report on Sunday, September 17th. BidaskClub cut Columbia Sportswear from a strong-buy rating to a buy rating in a report on Tuesday, December 12th. Pivotal Research reiterated a buy rating and set a $74.00 target price (up previously from $72.00) on shares of Columbia Sportswear in a report on Friday, October 27th. FBR & Co reiterated a buy rating and set a $68.00 target price on shares of Columbia Sportswear in a report on Friday, October 27th. Finally, Citigroup increased their target price on Columbia Sportswear from $68.00 to $73.00 and gave the stock a buy rating in a report on Friday, October 27th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $70.93.
Columbia Sportswear (NASDAQ COLM) traded up $0.57 on Tuesday, hitting $73.05. 232,060 shares of the company were exchanged, compared to its average volume of 227,009. Columbia Sportswear has a 1-year low of $51.56 and a 1-year high of $74.64. The company has a market cap of $5,090.00, a PE ratio of 26.18, a P/E/G ratio of 2.44 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.25 EPS 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 during the quarter, compared to analysts’ expectations of $735.67 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. research analysts anticipate that Columbia Sportswear will post 2.7 EPS for the current year.
In related news, Director Walter Klenz sold 11,608 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $66.05, for a total value of $766,708.40. Following the completion of the sale, the director now directly owns 21,619 shares in the company, valued at approximately $1,427,934.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $55,512.00. Following the completion of the sale, the director now owns 1,089 shares of the company’s stock, valued at $67,169.52. The disclosure for this sale can be found here. 58.86% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of COLM. Schwab Charles Investment Management Inc. lifted its position in Columbia Sportswear by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 204,514 shares of the textile maker’s stock worth $11,875,000 after acquiring an additional 6,649 shares during the last quarter. First Trust Advisors LP lifted its position in Columbia Sportswear by 6.4% during the second quarter. First Trust Advisors LP now owns 35,154 shares of the textile maker’s stock worth $2,041,000 after acquiring an additional 2,125 shares during the last quarter. Rhumbline Advisers lifted its position in Columbia Sportswear by 9.0% during the second quarter. Rhumbline Advisers now owns 36,942 shares of the textile maker’s stock worth $2,145,000 after acquiring an additional 3,039 shares during the last quarter. Legal & General Group Plc lifted its position in Columbia Sportswear by 4.8% during the second quarter. Legal & General Group Plc now owns 10,352 shares of the textile maker’s stock worth $601,000 after acquiring an additional 471 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in Columbia Sportswear by 247.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,237 shares of the textile maker’s stock worth $246,000 after acquiring an additional 3,017 shares during the last quarter. Hedge funds and other institutional investors own 39.00% of the company’s stock.
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About Columbia Sportswear
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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