Columbia Sportswear (COLM) Hits New 1-Year High After Analyst Upgrade

Columbia Sportswear (NASDAQ:COLM)’s share price hit a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $106.00 to $122.00. Citigroup currently has a buy rating on the stock. Columbia Sportswear traded as high as $95.74 and last traded at $93.90, with a volume of 12168 shares traded. The stock had previously closed at $94.94.

Other equities research analysts have also issued reports about the company. Pivotal Research increased their price target on Columbia Sportswear from $94.00 to $97.00 in a research report on Monday, October 29th. BidaskClub raised Columbia Sportswear from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Stifel Nicolaus raised Columbia Sportswear from a “hold” rating to a “buy” rating and increased their price target for the company from $93.00 to $103.00 in a research report on Friday, October 26th. DA Davidson raised Columbia Sportswear from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Thursday, November 29th. Finally, Macquarie set a $106.00 price target on Columbia Sportswear and gave the company a “hold” rating in a research report on Friday, October 26th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Columbia Sportswear presently has an average rating of “Buy” and an average price target of $91.71.

In other news, Director Sarah Bany sold 19,946 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $88.91, for a total transaction of $1,773,398.86. Following the completion of the sale, the director now directly owns 11,610 shares of the company’s stock, valued at approximately $1,032,245.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andy D. Bryant sold 13,274 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $91.75, for a total value of $1,217,889.50. Following the sale, the director now directly owns 42,060 shares of the company’s stock, valued at $3,859,005. The disclosure for this sale can be found here. Corporate insiders own 56.68% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Martingale Asset Management L P increased its position in shares of Columbia Sportswear by 1.3% during the 2nd quarter. Martingale Asset Management L P now owns 50,836 shares of the textile maker’s stock valued at $4,650,000 after purchasing an additional 630 shares during the last quarter. Aperio Group LLC increased its position in shares of Columbia Sportswear by 7.7% during the 2nd quarter. Aperio Group LLC now owns 10,236 shares of the textile maker’s stock valued at $936,000 after purchasing an additional 735 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Columbia Sportswear by 33.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,134 shares of the textile maker’s stock valued at $290,000 after purchasing an additional 788 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Columbia Sportswear by 29.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,119 shares of the textile maker’s stock valued at $315,000 after purchasing an additional 936 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Columbia Sportswear by 19.3% during the 3rd quarter. Strs Ohio now owns 6,088 shares of the textile maker’s stock valued at $566,000 after purchasing an additional 983 shares during the last quarter. 38.70% of the stock is owned by hedge funds and other institutional investors.

The stock has a market cap of $6.30 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.43 and a beta of 0.71.

Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, October 25th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.14. Columbia Sportswear had a return on equity of 15.43% and a net margin of 5.56%. The firm had revenue of $795.80 million during the quarter, compared to analyst estimates of $791.25 million. Research analysts predict that Columbia Sportswear will post 3.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 15th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.96 annualized dividend and a yield of 1.04%. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.22. Columbia Sportswear’s dividend payout ratio (DPR) is 32.21%.

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About Columbia Sportswear (NASDAQ:COLM)

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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