Columbia Sportswear Company (COLM) Upgraded by Zacks Investment Research to Hold
Columbia Sportswear Company (NASDAQ:COLM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Shares of Columbia Sportswearhave underperformed the industry over the past six month, as the company has been facing challenges in the U.S. region, especially in its wholesale front. Several of its customers in the U.S have announced store closures, bankruptcies, or plans to restructure or liquidate. Further, Columbia and prAna brands are suffering setbacks in Korea as there is a general shift of consumer preference. Moreover, due to its significant exposure in the international markets, it remains prone to currency fluctuations. However the company has been gaining from the improved performance of its SOREL brand and growth in its Europe-direct business that favorably impacted the company’s top line during the second quarter of 2017. Columbia Sportswear is also on track with its Project CONNECT that aids accelerating its performance as a brand and consumer focused organization.”
Other equities analysts have also issued reports about the stock. Pivotal Research assumed coverage on shares of Columbia Sportswear in a report on Thursday, October 5th. They set a “buy” rating and a $72.00 target price for the company. Robert W. Baird reissued a “buy” rating and issued a $68.00 price target on shares of Columbia Sportswear in a research note on Sunday, September 17th. Cowen and Company set a $58.00 price target on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Monday, August 21st. Stifel Nicolaus set a $60.00 price target on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Sunday, July 30th. Finally, Canaccord Genuity set a $60.00 price target on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Tuesday, July 25th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Columbia Sportswear currently has a consensus rating of “Buy” and an average price target of $63.92.
Columbia Sportswear (NASDAQ:COLM) traded up 3.04% during trading on Friday, reaching $62.65. The company had a trading volume of 64,091 shares. Columbia Sportswear has a one year low of $51.56 and a one year high of $63.55. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 22.84 and a beta of 0.82. The company has a 50-day moving average price of $59.75 and a 200 day moving average price of $57.66.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, July 27th. The textile maker reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. Columbia Sportswear had a net margin of 8.01% and a return on equity of 12.31%. The firm had revenue of $398.90 million during the quarter, compared to analyst estimates of $394.53 million. During the same period last year, the firm posted ($0.12) EPS. Columbia Sportswear’s revenue was up 2.6% on a year-over-year basis. Analysts expect that Columbia Sportswear will post $2.79 earnings per share for the current year.
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In other news, Director Edward S. George sold 6,664 shares of Columbia Sportswear stock in a transaction on Monday, August 28th. The stock was sold at an average price of $56.90, for a total transaction of $379,181.60. Following the transaction, the director now owns 8,664 shares in the company, valued at approximately $492,981.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 58.86% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of COLM. BlackRock Inc. raised its holdings in shares of Columbia Sportswear by 78,608.2% during the 1st quarter. BlackRock Inc. now owns 1,635,556 shares of the textile maker’s stock worth $96,089,000 after acquiring an additional 1,633,478 shares during the period. Vanguard Group Inc. raised its holdings in shares of Columbia Sportswear by 31.7% during the 1st quarter. Vanguard Group Inc. now owns 2,774,168 shares of the textile maker’s stock worth $162,982,000 after acquiring an additional 667,856 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Columbia Sportswear during the 1st quarter worth $16,239,000. American Century Companies Inc. raised its holdings in shares of Columbia Sportswear by 38.4% during the 2nd quarter. American Century Companies Inc. now owns 576,986 shares of the textile maker’s stock worth $33,500,000 after acquiring an additional 160,070 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Columbia Sportswear by 8.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,640,985 shares of the textile maker’s stock worth $95,276,000 after acquiring an additional 131,329 shares during the period. Institutional investors and hedge funds own 38.65% of the company’s stock.
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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