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Columbia Sportswear Company (NASDAQ:COLM) hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement, ARN reports. The company traded as high as $89.96 and last traded at $87.82, with a volume of 292,101 shares traded. The stock had previously closed at $81.94.

The company reported $0.63 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.30. The company had revenue of $424.10 million for the quarter, compared to the consensus estimate of $397.58 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.37%.

A number of research firms have recently commented on COLM. Analysts at Canaccord Genuity raised their price target on shares of Columbia Sportswear Company from $75.00 to $78.00 in a research note on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at DA Davidson upgraded shares of Columbia Sportswear Company from a “neutral” rating to a “buy” rating in a research note on Wednesday. They now have a $103.00 price target on the stock, up previously from $87.00. They noted that the move was a valuation call. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Columbia Sportswear Company from $70.00 to $77.00 in a research note on Wednesday. They now have a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $76.19.

The stock’s 50-day moving average is $82.05 and its 200-day moving average is $75.47. The company has a market cap of $3.036 billion and a P/E ratio of 30.12.

Columbia Sportswear Company is a family-owned, regional hat distributor. The Company is engaged in the design, sourcing, marketing and distribution of active outdoor apparel, footwear, accessories and equipment.

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