Zacks Investment Research upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $81.00 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.”
COLM has been the topic of several other reports. Robert W. Baird reiterated a buy rating and set a $68.00 price target on shares of Columbia Sportswear in a research report on Sunday, October 22nd. Pivotal Research initiated coverage on Columbia Sportswear in a research report on Thursday, October 5th. They set a buy rating and a $72.00 price target on the stock. Guggenheim reiterated a buy rating and set a $75.00 price target on shares of Columbia Sportswear in a research report on Friday, December 15th. Stifel Nicolaus upped their price target on Columbia Sportswear from $60.00 to $62.00 and gave the company a hold rating in a research report on Friday, October 27th. Finally, DA Davidson set a $77.00 price target on Columbia Sportswear and gave the company a buy rating in a research report on Tuesday, December 5th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of Buy and an average price target of $70.33.
Shares of Columbia Sportswear (NASDAQ COLM) traded up $0.13 on Tuesday, hitting $72.32. The stock had a trading volume of 164,439 shares, compared to its average volume of 236,214. Columbia Sportswear has a 12-month low of $51.56 and a 12-month high of $73.59. The company has a market capitalization of $5,040.00, a PE ratio of 25.92, a PEG ratio of 2.39 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, October 26th. The textile maker reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.10. Columbia Sportswear had a return on equity of 12.30% and a net margin of 8.18%. The firm had revenue of $747.37 million for the quarter, compared to analysts’ expectations of $735.67 million. During the same period in the prior year, the business posted $1.18 earnings per share. The company’s revenue was up .2% on a year-over-year basis. sell-side analysts expect that Columbia Sportswear will post 2.7 earnings per share for the current year.
In other news, Director Malia H. Wasson sold 900 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $61.68, for a total transaction of $55,512.00. Following the completion of the transaction, the director now owns 1,089 shares of the company’s stock, valued at $67,169.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter Klenz sold 11,608 shares of the business’s stock in a transaction dated 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 directly owns 21,619 shares of the company’s stock, 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 hedge funds and other institutional investors have recently modified their holdings of COLM. JPMorgan Chase & Co. grew its holdings in shares of Columbia Sportswear by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 1,789,254 shares of the textile maker’s stock worth $108,662,000 after purchasing an additional 148,269 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Columbia Sportswear by 14.8% during the third quarter. Victory Capital Management Inc. now owns 1,072,520 shares of the textile maker’s stock worth $66,046,000 after purchasing an additional 137,900 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Columbia Sportswear by 6.0% during the second quarter. BlackRock Inc. now owns 1,733,820 shares of the textile maker’s stock worth $100,665,000 after purchasing an additional 98,264 shares in the last quarter. AHL Partners LLP grew its holdings in shares of Columbia Sportswear by 615.4% during the second quarter. AHL Partners LLP now owns 95,722 shares of the textile maker’s stock worth $5,557,000 after purchasing an additional 82,341 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Columbia Sportswear by 21.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 247,843 shares of the textile maker’s stock worth $15,263,000 after purchasing an additional 43,329 shares in the last quarter. 38.68% of the stock is owned by institutional investors.
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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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