DA Davidson Weighs in on Columbia Sportswear’s Q2 2020 Earnings (NASDAQ:COLM)

Columbia Sportswear (NASDAQ:COLM) – Research analysts at DA Davidson lowered their Q2 2020 EPS estimates for Columbia Sportswear in a report released on Thursday, June 25th. DA Davidson analyst J. Morris now expects that the textile maker will post earnings per share of ($1.30) for the quarter, down from their previous forecast of ($0.80). DA Davidson has a “Buy” rating and a $100.00 price target on the stock. DA Davidson also issued estimates for Columbia Sportswear’s FY2020 earnings at $0.20 EPS and FY2021 earnings at $4.25 EPS.

Other equities research analysts have also recently issued reports about the company. Citigroup upped their target price on Columbia Sportswear from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. TheStreet cut Columbia Sportswear from a “b” rating to a “c+” rating in a research note on Friday, March 20th. Cfra cut their target price on Columbia Sportswear from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. BidaskClub upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Pivotal Research cut their target price on Columbia Sportswear from $101.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $105.64.

Shares of NASDAQ:COLM opened at $79.86 on Monday. The company has a market capitalization of $5.13 billion, a P/E ratio of 21.24, a P/E/G ratio of 14.15 and a beta of 0.64. Columbia Sportswear has a 1 year low of $51.82 and a 1 year high of $109.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.80 and a quick ratio of 1.86. The business’s 50 day simple moving average is $74.84 and its 200 day simple moving average is $81.18.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, April 30th. The textile maker reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.56). The company had revenue of $568.23 million for the quarter, compared to analyst estimates of $597.75 million. Columbia Sportswear had a return on equity of 14.34% and a net margin of 8.68%. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS.

In related news, major shareholder Gertrude Boyle Trust sold 3,244 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $81.88, for a total value of $265,618.72. Following the completion of the sale, the insider now directly owns 8,359,898 shares in the company, valued at $684,508,448.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sarah Bany sold 13,822 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $74.29, for a total value of $1,026,836.38. Following the completion of the sale, the insider now owns 1,154,136 shares of the company’s stock, valued at $85,740,763.44. The disclosure for this sale can be found here. Insiders sold a total of 116,381 shares of company stock valued at $9,134,847 over the last quarter. 41.15% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of COLM. Victory Capital Management Inc. grew its stake in shares of Columbia Sportswear by 18.4% in the 4th quarter. Victory Capital Management Inc. now owns 62,065 shares of the textile maker’s stock valued at $6,218,000 after buying an additional 9,659 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Columbia Sportswear by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 249,513 shares of the textile maker’s stock valued at $24,999,000 after purchasing an additional 6,271 shares in the last quarter. Comerica Bank grew its position in shares of Columbia Sportswear by 420.8% during the 4th quarter. Comerica Bank now owns 21,776 shares of the textile maker’s stock valued at $2,080,000 after purchasing an additional 17,595 shares in the last quarter. FMR LLC grew its position in shares of Columbia Sportswear by 12.6% during the 4th quarter. FMR LLC now owns 568,702 shares of the textile maker’s stock valued at $56,978,000 after purchasing an additional 63,580 shares in the last quarter. Finally, Securian Asset Management Inc bought a new stake in shares of Columbia Sportswear during the 4th quarter worth $299,000. Institutional investors and hedge funds own 41.83% 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 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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Earnings History and Estimates for Columbia Sportswear (NASDAQ:COLM)

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