A number of other equities research analysts have also recently issued reports on the stock. Wedbush upped their price objective on shares of Columbia Sportswear from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. DA Davidson upgraded shares of Columbia Sportswear from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, June 24th. Four investment 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 currently has an average rating of “Buy” and an average target price of $101.22.
Shares of NASDAQ:COLM opened at $92.55 on Tuesday. The stock has a market capitalization of $6.12 billion, a PE ratio of 34.92, a P/E/G ratio of 15.11 and a beta of 0.59. Columbia Sportswear has a 1 year low of $51.82 and a 1 year high of $102.88. The firm has a fifty day moving average price of $83.18 and a 200 day moving average price of $75.84.
Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data 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. The firm had revenue of $316.61 million during the quarter, compared to analysts’ expectations of $315.43 million. Columbia Sportswear had a net margin of 6.66% and a return on equity of 10.53%. On average, equities analysts anticipate that Columbia Sportswear will post 2.08 earnings per share for the current year.
In related news, major shareholder Gertrude Boyle Trust sold 347,451 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 7,959,767 shares in the company, valued at $626,752,053.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Sarah Bany sold 21,903 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $83.67, for a total transaction of $1,832,624.01. Following the completion of the sale, the insider now owns 1,154,136 shares of the company’s stock, valued at approximately $96,566,559.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,690,549 shares of company stock valued at $132,540,414. 41.15% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Columbia Sportswear by 27.3% in the first quarter. Wellington Management Group LLP now owns 270,673 shares of the textile maker’s stock worth $18,885,000 after purchasing an additional 57,973 shares in the last quarter. Wells Fargo & Company MN raised its position in Columbia Sportswear by 9.7% in the first quarter. Wells Fargo & Company MN now owns 75,869 shares of the textile maker’s stock worth $5,293,000 after purchasing an additional 6,723 shares in the last quarter. Morgan Stanley raised its position in Columbia Sportswear by 17.4% in the first quarter. Morgan Stanley now owns 142,285 shares of the textile maker’s stock worth $9,928,000 after purchasing an additional 21,087 shares in the last quarter. State Street Corp raised its position in Columbia Sportswear by 1.8% in the first quarter. State Street Corp now owns 714,059 shares of the textile maker’s stock worth $49,820,000 after purchasing an additional 12,970 shares in the last quarter. Finally, Waddell & Reed Financial Inc. acquired a new position in Columbia Sportswear in the first quarter worth about $13,606,000. Institutional investors and hedge funds own 41.55% of the company’s stock.
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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