Needham & Company LLC Begins Coverage on Columbia Sportswear (COLM)

Needham & Company LLC assumed coverage on shares of Columbia Sportswear (NASDAQ:COLM) in a report issued on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $87.00 target price on the textile maker’s stock.

Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Columbia Sportswear from a buy rating to a hold rating in a research report on Wednesday, January 10th. BidaskClub cut Columbia Sportswear from a strong-buy rating to a buy rating in a research report on Tuesday, April 17th. B. Riley upped their price objective on Columbia Sportswear from $76.00 to $79.00 and gave the company a buy rating in a research report on Friday, February 9th. Canaccord Genuity set a $70.00 price objective on Columbia Sportswear and gave the company a hold rating in a research report on Thursday, February 8th. Finally, Pivotal Research reiterated a buy rating and set a $85.00 price objective (up previously from $74.00) on shares of Columbia Sportswear in a research report on Wednesday, February 7th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $78.20.

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Shares of NASDAQ:COLM opened at $80.52 on Monday. The firm has a market cap of $5,529.23, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.39 and a beta of 0.89. Columbia Sportswear has a 1 year low of $51.56 and a 1 year high of $83.13.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, February 8th. The textile maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.16. The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $762.18 million. Columbia Sportswear had a return on equity of 12.65% and a net margin of 4.26%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. analysts predict that Columbia Sportswear will post 3.25 EPS for the current year.

In other Columbia Sportswear news, COO Thomas B. Cusick sold 8,343 shares of the company’s stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $82.50, for a total value of $688,297.50. Following the completion of the sale, the chief operating officer now owns 52,606 shares in the company, valued at $4,339,995. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward S. George sold 11,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $76.52, for a total value of $888,244.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,838 shares of company stock valued at $7,405,059. Company insiders own 58.86% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of COLM. Legal & General Group Plc increased its position in Columbia Sportswear by 43.8% in the third quarter. Legal & General Group Plc now owns 14,887 shares of the textile maker’s stock worth $916,000 after buying an additional 4,535 shares in the last quarter. Wells Fargo & Company MN increased its position in Columbia Sportswear by 15.7% in the third quarter. Wells Fargo & Company MN now owns 151,239 shares of the textile maker’s stock worth $9,314,000 after buying an additional 20,560 shares in the last quarter. OxFORD Asset Management LLP increased its position in Columbia Sportswear by 38.3% in the third quarter. OxFORD Asset Management LLP now owns 9,462 shares of the textile maker’s stock worth $575,000 after buying an additional 2,621 shares in the last quarter. California Public Employees Retirement System increased its position in Columbia Sportswear by 1.3% in the third quarter. California Public Employees Retirement System now owns 71,700 shares of the textile maker’s stock worth $4,415,000 after buying an additional 900 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Columbia Sportswear by 3.8% during the fourth quarter. Bank of Montreal Can now owns 24,852 shares of the textile maker’s stock worth $1,786,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 39.36% of the company’s stock.

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About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

Analyst Recommendations for Columbia Sportswear (NASDAQ:COLM)

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