Goldman Sachs Group Downgrades Columbia Sportswear (COLM) to Neutral
Columbia Sportswear (NASDAQ:COLM) was downgraded by investment analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Tuesday. They currently have a $78.00 price objective on the textile maker’s stock. Goldman Sachs Group’s price target indicates a potential upside of 12.90% from the company’s current price.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus lifted their price target on Columbia Sportswear from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Friday, October 27th. FBR & Co reiterated a “buy” rating and issued a $68.00 price target on shares of Columbia Sportswear in a research note on Friday, October 27th. Cowen set a $58.00 price target on Columbia Sportswear and gave the company a “hold” rating in a research note on Monday, August 21st. Robert W. Baird reiterated a “buy” rating and issued a $68.00 price target on shares of Columbia Sportswear in a research note on Sunday, October 22nd. Finally, Canaccord Genuity set a $60.00 price target on Columbia Sportswear and gave the company a “hold” rating in a research note on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Columbia Sportswear presently has a consensus rating of “Buy” and an average target price of $66.21.
Columbia Sportswear (NASDAQ:COLM) opened at $69.09 on Tuesday. Columbia Sportswear has a 52 week low of $51.56 and a 52 week high of $71.65. The company has a market capitalization of $4,766.28, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.59 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data 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. Columbia Sportswear had a return on equity of 12.30% and a net margin of 8.18%. The firm had revenue of $747.37 million for the quarter, compared to analyst estimates of $735.67 million. During the same quarter last year, the company earned $1.18 EPS. The company’s revenue was up .2% on a year-over-year basis. equities analysts forecast that Columbia Sportswear will post 2.71 earnings per share for the current year.
In related news, Director Walter Klenz sold 11,608 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $66.05, for a total transaction of $766,708.40. Following the sale, the director now owns 21,619 shares in the company, valued at approximately $1,427,934.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Malia H. Wasson sold 900 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $61.68, for a total value of $55,512.00. Following the sale, the director now owns 1,089 shares in the company, valued at approximately $67,169.52. The disclosure for this sale can be found here. Insiders own 58.86% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new position in Columbia Sportswear during the 2nd quarter worth about $3,918,000. State Street Corp lifted its holdings in Columbia Sportswear by 8.8% during the 2nd quarter. State Street Corp now owns 538,316 shares of the textile maker’s stock worth $31,254,000 after buying an additional 43,315 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 131,329 shares during the period. Harfst & Associates Inc. acquired a new position in Columbia Sportswear during the 2nd quarter worth about $334,000. Finally, Russell Investments Group Ltd. lifted its holdings in Columbia Sportswear by 13.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 206,632 shares of the textile maker’s stock worth $12,724,000 after buying an additional 24,950 shares during the period. Institutional investors and hedge funds own 39.13% 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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