Columbia Sportswear (NASDAQ:COLM) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Thursday, The Fly reports.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered Columbia Sportswear from a “buy” rating to a “hold” rating and set a $104.00 price objective for the company. in a report on Tuesday, October 5th. Bank of America lowered Columbia Sportswear from a “buy” rating to a “neutral” rating and cut their price objective for the company from $137.00 to $108.00 in a report on Tuesday, October 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $117.60.
Shares of COLM opened at $99.06 on Thursday. Columbia Sportswear has a 12 month low of $84.19 and a 12 month high of $114.98. The company has a market cap of $6.46 billion, a P/E ratio of 22.46, a PEG ratio of 0.63 and a beta of 0.91. The stock has a fifty day moving average price of $100.87 and a 200 day moving average price of $100.73.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, October 28th. The textile maker reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.21. The company had revenue of $804.70 million during the quarter, compared to analysts’ expectations of $862.03 million. Columbia Sportswear had a return on equity of 15.74% and a net margin of 10.06%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. Equities analysts predict that Columbia Sportswear will post 4.74 EPS for the current year.
In related news, Director Walter Klenz sold 1,192 shares of the company’s stock in a transaction on Friday, November 12th. The stock was sold at an average price of $105.97, for a total transaction of $126,316.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 41.15% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Columbia Sportswear by 0.5% in the 2nd quarter. BlackRock Inc. now owns 3,243,958 shares of the textile maker’s stock worth $319,076,000 after purchasing an additional 15,659 shares during the last quarter. Vanguard Group Inc. increased its position in Columbia Sportswear by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,081,536 shares of the textile maker’s stock worth $303,100,000 after purchasing an additional 139,818 shares during the last quarter. Invesco Ltd. increased its position in Columbia Sportswear by 2.2% in the 3rd quarter. Invesco Ltd. now owns 1,362,159 shares of the textile maker’s stock worth $130,550,000 after purchasing an additional 29,946 shares during the last quarter. Victory Capital Management Inc. increased its position in Columbia Sportswear by 4.2% in the 2nd quarter. Victory Capital Management Inc. now owns 920,862 shares of the textile maker’s stock worth $90,576,000 after purchasing an additional 37,282 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Columbia Sportswear by 7.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 912,468 shares of the textile maker’s stock valued at $87,451,000 after acquiring an additional 60,473 shares during the last quarter. 51.67% of the stock is currently owned by institutional investors.
Columbia Sportswear Company Profile
Columbia Sportswear Co engages in designing, sourcing, marketing, and distributing outdoor and active lifestyle apparel, footwear, accessories, and equipment. It operates through the following geographical segments: the United States; Latin America and Asia Pacific; Europe, Middle East, and Africa; and Canada.
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