Columbia Sportswear (NASDAQ:COLM) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, BidAskClub reports.
A number of other analysts have also issued reports on COLM. DA Davidson raised Columbia Sportswear from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Wednesday, June 24th. Wedbush lifted their target price on Columbia Sportswear from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Columbia Sportswear presently has an average rating of “Buy” and a consensus price target of $101.22.
Shares of NASDAQ COLM opened at $92.55 on Tuesday. Columbia Sportswear has a 1 year low of $51.82 and a 1 year high of $102.88. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 15.11 and a beta of 0.59. The stock’s 50-day simple moving average is $83.18 and its 200-day simple moving average is $75.84.
Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, July 30th. The textile maker reported ($0.77) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.88) by $0.11. Columbia Sportswear had a return on equity of 10.53% and a net margin of 6.66%. The business had revenue of $316.61 million for the quarter, compared to analyst estimates of $315.43 million. On average, research analysts expect that Columbia Sportswear will post 2.08 EPS for the current fiscal year.
In other news, major shareholder Sarah Bany sold 21,903 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $83.67, for a total transaction of $1,832,624.01. Following the completion of the transaction, the insider now directly owns 1,154,136 shares of the company’s stock, valued at $96,566,559.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gertrude Boyle Trust sold 347,451 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $78.74, for a total value of $27,358,291.74. Following the transaction, the insider now directly owns 7,959,767 shares of the company’s stock, valued at $626,752,053.58. The disclosure for this sale can be found here. Insiders have sold 1,690,549 shares of company stock valued at $132,540,414 over the last ninety days. Corporate insiders own 41.15% of the company’s stock.
Large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Columbia Sportswear by 27.3% during the first quarter. Wellington Management Group LLP now owns 270,673 shares of the textile maker’s stock valued at $18,885,000 after purchasing an additional 57,973 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Columbia Sportswear by 9.7% during the first quarter. Wells Fargo & Company MN now owns 75,869 shares of the textile maker’s stock worth $5,293,000 after buying an additional 6,723 shares during the period. Morgan Stanley boosted its position in shares of Columbia Sportswear by 17.4% during the first quarter. Morgan Stanley now owns 142,285 shares of the textile maker’s stock worth $9,928,000 after buying an additional 21,087 shares during the period. State Street Corp boosted its position in shares of Columbia Sportswear by 1.8% during the first quarter. State Street Corp now owns 714,059 shares of the textile maker’s stock worth $49,820,000 after buying an additional 12,970 shares during the period. Finally, Waddell & Reed Financial Inc. acquired a new position in shares of Columbia Sportswear during the first quarter worth approximately $13,606,000. 41.55% of the stock is owned by institutional investors.
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 and 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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