Columbia Sportswear Company (COLM) Coverage Initiated by Analysts at Pivotal Research
Pivotal Research started coverage on shares of Columbia Sportswear Company (NASDAQ:COLM) in a research note released on Thursday morning. The firm issued a buy rating and a $72.00 target price on the textile maker’s stock.
A number of other brokerages have also recently issued reports on COLM. Zacks Investment Research cut shares of Columbia Sportswear from a hold rating to a sell rating in a research report on Monday, July 24th. Buckingham Research reiterated a neutral rating and set a $58.00 price target on shares of Columbia Sportswear in a report on Monday, July 17th. Canaccord Genuity set a $60.00 price target on shares of Columbia Sportswear and gave the stock a hold rating in a report on Tuesday, July 25th. Cowen and Company set a $58.00 price target on shares of Columbia Sportswear and gave the stock a hold rating in a report on Wednesday, July 19th. Finally, Robert W. Baird reiterated a buy rating and set a $68.00 price target on shares of Columbia Sportswear in a report on Sunday, September 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Columbia Sportswear presently has a consensus rating of Hold and an average price target of $64.46.
Columbia Sportswear (COLM) traded up 0.27% on Thursday, hitting $62.62. 130,689 shares of the company traded hands. Columbia Sportswear has a 12 month low of $51.56 and a 12 month high of $63.55. The stock’s 50-day moving average is $58.49 and its 200 day moving average is $57.46. The stock has a market cap of $4.37 billion, a PE ratio of 22.83 and a beta of 0.82.
Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, July 27th. The textile maker reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. The company had revenue of $398.90 million during the quarter, compared to analysts’ expectations of $394.53 million. Columbia Sportswear had a net margin of 8.01% and a return on equity of 12.31%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Equities research analysts expect that Columbia Sportswear will post $2.80 earnings per share for the current fiscal year.
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In related news, Director Edward S. George sold 6,664 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $56.90, for a total value of $379,181.60. Following the completion of the sale, the director now directly owns 8,664 shares in the company, valued at $492,981.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 58.86% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Columbia Sportswear by 1.0% in the second quarter. Vanguard Group Inc. now owns 2,802,549 shares of the textile maker’s stock valued at $162,716,000 after purchasing an additional 28,381 shares during the period. BlackRock Inc. grew its holdings 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 purchasing an additional 98,264 shares during the period. JPMorgan Chase & Co. grew its holdings in Columbia Sportswear by 8.7% in the second quarter. JPMorgan Chase & Co. now owns 1,640,985 shares of the textile maker’s stock valued at $95,276,000 after purchasing an additional 131,329 shares during the period. Victory Capital Management Inc. grew its holdings in Columbia Sportswear by 2.7% in the second quarter. Victory Capital Management Inc. now owns 934,620 shares of the textile maker’s stock valued at $54,264,000 after purchasing an additional 24,325 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Columbia Sportswear by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 717,052 shares of the textile maker’s stock valued at $41,631,000 after purchasing an additional 6,371 shares during the period. Hedge funds and other institutional investors own 38.92% 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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