Columbia Sportswear (NASDAQ:COLM) Now Covered by Needham & Company LLC

Analysts at Needham & Company LLC began coverage on shares of Columbia Sportswear (NASDAQ:COLM) in a research note issued on Friday,Benzinga reports. The firm set a “hold” rating on the textile maker’s stock.

Several other equities analysts also recently issued reports on the stock. UBS Group upped their price objective on shares of Columbia Sportswear from $42.00 to $51.00 and gave the company a “sell” rating in a research note on Monday, April 14th. Stifel Nicolaus reduced their price target on Columbia Sportswear from $91.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Wall Street Zen cut Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays dropped their target price on Columbia Sportswear from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Finally, Citigroup reiterated a “neutral” rating and set a $68.00 target price (down from $80.00) on shares of Columbia Sportswear in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.00.

Columbia Sportswear Price Performance

Shares of NASDAQ COLM opened at $64.51 on Friday. The firm’s 50-day moving average is $66.74 and its two-hundred day moving average is $78.71. The company has a market capitalization of $3.56 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.54 and a beta of 1.00. Columbia Sportswear has a 12-month low of $58.44 and a 12-month high of $92.88.

Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, May 1st. The textile maker reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The firm had revenue of $778.45 million for the quarter, compared to analysts’ expectations of $763.50 million. Columbia Sportswear had a return on equity of 12.23% and a net margin of 6.63%. Columbia Sportswear’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, analysts forecast that Columbia Sportswear will post 4.1 EPS for the current fiscal year.

Insider Buying and Selling at Columbia Sportswear

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,776 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $65.94, for a total transaction of $183,049.44. Following the transaction, the director now owns 128,309 shares in the company, valued at $8,460,695.46. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 44.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Columbia Sportswear

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Columbia Sportswear by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 564,422 shares of the textile maker’s stock worth $47,372,000 after purchasing an additional 13,800 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Columbia Sportswear in the 4th quarter worth $1,904,000. Proficio Capital Partners LLC acquired a new position in Columbia Sportswear in the 4th quarter worth $1,472,000. Truist Financial Corp boosted its position in Columbia Sportswear by 143.6% in the 4th quarter. Truist Financial Corp now owns 11,907 shares of the textile maker’s stock valued at $999,000 after buying an additional 7,019 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Columbia Sportswear during the fourth quarter valued at about $296,000. 47.76% of the stock is owned by institutional investors and hedge funds.

About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday 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 for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.