Canaccord Genuity reissued their neutral rating on shares of Columbia Sportswear Company (NASDAQ:COLM) in a research report released on Wednesday.
COLM has been the subject of several other research reports. Zacks Investment Research upgraded shares of Columbia Sportswear from a sell rating to a hold rating in a research report on Monday, April 3rd. Goldman Sachs Group, Inc. (The) cut shares of Columbia Sportswear from a conviction-buy rating to a buy rating in a research report on Tuesday, May 23rd. Buckingham Research restated a neutral rating and issued a $58.00 target price on shares of Columbia Sportswear in a research report on Monday, July 17th. Cowen and Company set a $58.00 target price on shares of Columbia Sportswear and gave the stock a hold rating in a research report on Wednesday, July 19th. Finally, Forward View cut shares of Columbia Sportswear from a buy rating to a hold rating in a report on Saturday, May 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Columbia Sportswear presently has a consensus rating of Hold and a consensus price target of $63.83.
Shares of Columbia Sportswear (NASDAQ COLM) traded up 7.53% during midday trading on Wednesday, reaching $62.01. The company’s stock had a trading volume of 514,244 shares. Columbia Sportswear has a 1-year low of $51.56 and a 1-year high of $63.55. The stock has a 50 day moving average of $57.01 and a 200-day moving average of $56.45. The company has a market capitalization of $4.32 billion, a P/E ratio of 22.61 and a beta of 0.79.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, July 27th. The textile maker reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. Columbia Sportswear had a net margin of 8.01% and a return on equity of 12.32%. The firm had revenue of $398.90 million during the quarter, compared to analysts’ expectations of $394.53 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. Columbia Sportswear’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Columbia Sportswear will post $2.80 earnings per share for the current year.
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In related news, Director Edward S. George sold 1,776 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $53.59, for a total transaction of $95,175.84. Following the completion of the sale, the director now directly owns 2,000 shares in the company, valued at $107,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 58.86% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in shares of Columbia Sportswear by 3.6% in the fourth quarter. State Street Corp now owns 484,862 shares of the textile maker’s stock worth $28,263,000 after buying an additional 16,957 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Columbia Sportswear by 5.8% in the fourth quarter. Guggenheim Capital LLC now owns 14,838 shares of the textile maker’s stock worth $865,000 after buying an additional 815 shares during the last quarter. Norges Bank acquired a new stake in shares of Columbia Sportswear during the fourth quarter worth $12,115,000. Hudson Bay Capital Management LP acquired a new stake in shares of Columbia Sportswear during the fourth quarter worth $292,000. Finally, Teachers Advisors LLC boosted its stake in shares of Columbia Sportswear by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 228,734 shares of the textile maker’s stock worth $13,335,000 after buying an additional 1,846 shares during the last quarter. Hedge funds and other institutional investors own 39.60% of the company’s stock.
About Columbia Sportswear
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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