Columbia Sportswear (NASDAQ:COLM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 a number of other reports. Robert W. Baird reaffirmed a “buy” rating and set a $68.00 target price on shares of Columbia Sportswear in a research report on Sunday, October 22nd. Pivotal Research initiated coverage on shares of Columbia Sportswear in a research report on Thursday, October 5th. They set a “buy” rating and a $72.00 target price on the stock. BidaskClub lowered shares of Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. Guggenheim reaffirmed a “buy” rating and set a $75.00 target price on shares of Columbia Sportswear in a research report on Friday, December 15th. Finally, Stifel Nicolaus increased their price objective on shares of Columbia Sportswear from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.93.
Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, October 26th. The textile maker reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.10. The business had revenue of $747.37 million for the quarter, compared to analyst estimates of $735.67 million. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $1.18 earnings per share. equities research analysts forecast that Columbia Sportswear will post 2.7 earnings per share for the current fiscal year.
In other Columbia Sportswear news, Director Malia H. Wasson sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $61.68, for a total value of $55,512.00. Following the completion of the sale, the director now directly owns 1,089 shares in the company, valued at $67,169.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Walter Klenz sold 11,608 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $66.05, for a total transaction of $766,708.40. Following the completion of the sale, the director now owns 21,619 shares of the company’s stock, valued at $1,427,934.95. The disclosure for this sale can be found here. 58.86% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in COLM. JPMorgan Chase & Co. boosted its stake in Columbia Sportswear by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 1,789,254 shares of the textile maker’s stock valued at $108,662,000 after acquiring an additional 148,269 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Columbia Sportswear by 14.8% in the third quarter. Victory Capital Management Inc. now owns 1,072,520 shares of the textile maker’s stock valued at $66,046,000 after acquiring an additional 137,900 shares in the last quarter. BlackRock Inc. boosted its stake in Columbia Sportswear by 6.0% in the second quarter. BlackRock Inc. now owns 1,733,820 shares of the textile maker’s stock valued at $100,665,000 after acquiring an additional 98,264 shares in the last quarter. AHL Partners LLP boosted its stake in Columbia Sportswear by 615.4% in the second quarter. AHL Partners LLP now owns 95,722 shares of the textile maker’s stock valued at $5,557,000 after acquiring an additional 82,341 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Columbia Sportswear by 21.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 247,843 shares of the textile maker’s stock valued at $15,263,000 after acquiring an additional 43,329 shares in the last quarter. Institutional investors own 39.00% of the company’s stock.
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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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