Zacks Investment Research upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a hold rating to a buy rating in a research report report published on Tuesday, January 16th. The firm currently has $82.00 price objective 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.”
Several other equities analysts also recently weighed in on the company. B. Riley restated a buy rating on shares of Columbia Sportswear in a research report on Wednesday, November 1st. Canaccord Genuity set a $66.00 price objective on Columbia Sportswear and gave the stock a hold rating in a research report on Sunday, January 7th. BidaskClub cut Columbia Sportswear from a strong-buy rating to a buy rating in a research note on Saturday, January 6th. Stifel Nicolaus reissued a hold rating and set a $60.00 target price on shares of Columbia Sportswear in a research note on Wednesday, October 4th. Finally, Pivotal Research assumed coverage on Columbia Sportswear in a research note on Thursday, October 5th. They set a buy rating and a $72.00 target price for the company. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $70.93.
Columbia Sportswear (NASDAQ:COLM) traded up $0.29 during trading on Tuesday, reaching $74.20. The company’s stock had a trading volume of 205,400 shares, compared to its average volume of 217,857. Columbia Sportswear has a 52 week low of $51.56 and a 52 week high of $74.64. The stock has a market capitalization of $5,164.57, a PE ratio of 26.60, a PEG ratio of 2.45 and a beta of 0.88.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, October 26th. The textile maker reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $747.37 million for the quarter, compared to analyst estimates of $735.67 million. Columbia Sportswear had a return on equity of 12.30% and a net margin of 8.18%. Columbia Sportswear’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. equities analysts expect that Columbia Sportswear will post 2.7 EPS for the current fiscal year.
In other Columbia Sportswear news, Director Malia H. Wasson sold 900 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 1,089 shares in the company, valued at approximately $67,169.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter Klenz sold 11,608 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $66.05, for a total value of $766,708.40. Following the transaction, the director now owns 21,619 shares in the company, valued at approximately $1,427,934.95. The disclosure for this sale can be found here. 58.86% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in COLM. State Street Corp lifted its stake in Columbia Sportswear by 8.8% in the 2nd quarter. State Street Corp now owns 538,316 shares of the textile maker’s stock valued at $31,254,000 after buying an additional 43,315 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Columbia Sportswear by 13.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 206,632 shares of the textile maker’s stock valued at $12,724,000 after buying an additional 24,950 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in Columbia Sportswear in the 2nd quarter valued at approximately $334,000. Deprince Race & Zollo Inc. lifted its stake in Columbia Sportswear by 8.8% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 481,183 shares of the textile maker’s stock valued at $29,631,000 after buying an additional 38,786 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Columbia Sportswear by 14.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,520 shares of the textile maker’s stock valued at $66,046,000 after buying an additional 137,900 shares in the last quarter. Institutional investors and hedge funds own 38.64% of the company’s stock.
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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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