Columbia Sportswear (NASDAQ:COLM) had its price objective lifted by Buckingham Research from $84.00 to $85.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “neutral” rating on the textile maker’s stock. Buckingham Research’s target price points to a potential downside of 3.29% from the company’s previous close.
Other equities research analysts also recently issued research reports about the stock. FBR & Co downgraded shares of Columbia Sportswear from an “outperform” rating to a “$93.43” rating and set a $84.00 price objective for the company. in a research report on Wednesday, July 18th. BidaskClub downgraded shares of Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Citigroup raised their price objective on shares of Columbia Sportswear from $94.00 to $106.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Needham & Company LLC reiterated a “buy” rating and set a $98.00 price target on shares of Columbia Sportswear in a research report on Friday, July 27th. Finally, Pivotal Research downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating and lifted their price target for the company from $95.00 to $96.00 in a research report on Wednesday, July 25th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $87.56.
Shares of NASDAQ:COLM opened at $87.89 on Wednesday. The stock has a market capitalization of $6.21 billion, a P/E ratio of 29.49, a PEG ratio of 2.36 and a beta of 0.77. Columbia Sportswear has a 52 week low of $59.51 and a 52 week high of $95.58.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, July 26th. The textile maker reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.26. The firm had revenue of $481.62 million during the quarter, compared to the consensus estimate of $453.27 million. Columbia Sportswear had a net margin of 5.19% and a return on equity of 14.79%. The firm’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) earnings per share. Equities analysts forecast that Columbia Sportswear will post 3.48 EPS for the current year.
Columbia Sportswear announced that its board has initiated a share buyback plan on Monday, August 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the textile maker to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In other news, Director Edward S. George sold 5,030 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $91.30, for a total transaction of $459,239.00. Following the completion of the sale, the director now directly owns 7,030 shares in the company, valued at approximately $641,839. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Joseph P. Boyle sold 1,443 shares of Columbia Sportswear stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $90.99, for a total transaction of $131,298.57. Following the sale, the executive vice president now owns 2,116,597 shares of the company’s stock, valued at $192,589,161.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,661 shares of company stock valued at $789,646. Insiders own 56.68% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $104,000. Point72 Asset Management L.P. acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $119,000. Fort L.P. acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $121,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Columbia Sportswear during the 1st quarter worth approximately $109,000. Finally, NewSquare Capital LLC acquired a new position in shares of Columbia Sportswear during the 2nd quarter worth approximately $165,000. Hedge funds and other institutional investors own 38.25% of the company’s stock.
Columbia Sportswear Company Profile
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.
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