Zacks Investment Research downgraded shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a hold rating in a research note published on Wednesday.
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.”
A number of other research analysts have also weighed in on COLM. Stifel Nicolaus reiterated a hold rating and issued a $60.00 price objective on shares of Columbia Sportswear in a research note on Wednesday, October 4th. Pivotal Research started coverage on shares of Columbia Sportswear in a research note on Thursday, October 5th. They issued a buy rating and a $72.00 price objective for the company. Robert W. Baird reiterated a buy rating and issued a $68.00 price objective on shares of Columbia Sportswear in a research note on Sunday, October 22nd. FBR & Co reiterated a buy rating and issued a $68.00 price objective on shares of Columbia Sportswear in a research note on Friday, October 27th. Finally, Citigroup lifted their price objective on shares of Columbia Sportswear from $68.00 to $73.00 and gave the company a buy rating in a research note on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Columbia Sportswear presently has a consensus rating of Buy and an average target price of $70.93.
Columbia Sportswear (COLM) opened at $73.91 on Wednesday. Columbia Sportswear has a one year low of $51.56 and a one year high of $74.64. The firm has a market cap of $5,164.54, a P/E ratio of 26.49, a P/E/G ratio of 2.45 and a beta of 0.88.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $735.67 million. During the same period in the previous year, the business earned $1.18 EPS. Columbia Sportswear’s revenue was up .2% compared to the same quarter last year. analysts expect that Columbia Sportswear will post 2.7 EPS for the current year.
In related news, Director Walter Klenz sold 11,608 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 21,619 shares in the company, valued at $1,427,934.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Malia H. Wasson sold 900 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $61.68, for a total transaction of $55,512.00. Following the completion of the transaction, 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 insiders.
A number of large investors have recently made changes to their positions in the stock. Stifel Financial Corp grew its position in Columbia Sportswear by 4.1% in the second quarter. Stifel Financial Corp now owns 4,122 shares of the textile maker’s stock worth $240,000 after acquiring an additional 162 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Columbia Sportswear by 10.0% in the second quarter. Ameritas Investment Partners Inc. now owns 2,563 shares of the textile maker’s stock worth $149,000 after acquiring an additional 234 shares in the last quarter. Prudential Financial Inc. grew its position in Columbia Sportswear by 5.6% in the second quarter. Prudential Financial Inc. now owns 5,143 shares of the textile maker’s stock worth $299,000 after acquiring an additional 275 shares in the last quarter. Dana Investment Advisors Inc. grew its position in Columbia Sportswear by 0.7% in the second quarter. Dana Investment Advisors Inc. now owns 40,047 shares of the textile maker’s stock worth $2,325,000 after acquiring an additional 278 shares in the last quarter. Finally, Advisor Group Inc. grew its position in Columbia Sportswear by 11.2% in the second quarter. Advisor Group Inc. now owns 3,364 shares of the textile maker’s stock worth $195,000 after acquiring an additional 339 shares in the last quarter. 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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