Columbia Sportswear Co. (COLM) Given “Buy” Rating at Canaccord Genuity
Columbia Sportswear Co. (NASDAQ:COLM)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity in a research note issued to investors on Tuesday. They currently have a $72.00 price target on the stock. Canaccord Genuity’s price target indicates a potential upside of 19.78% from the stock’s previous close.
Several other research firms have also weighed in on COLM. DA Davidson reiterated a “buy” rating and issued a $72.00 price objective on shares of Columbia Sportswear in a research note on Monday, July 18th. Brean Capital restated a “hold” rating on shares of Columbia Sportswear in a research note on Monday, July 18th. B. Riley restated a “neutral” rating and set a $64.00 price target on shares of Columbia Sportswear in a research note on Wednesday, July 27th. FBR & Co boosted their price target on shares of Columbia Sportswear from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Finally, Citigroup Inc. decreased their price target on shares of Columbia Sportswear from $69.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $63.50.
Columbia Sportswear (NASDAQ:COLM) traded up 1.50% during mid-day trading on Tuesday, reaching $60.11. 182,003 shares of the company’s stock traded hands. The company has a 50 day moving average price of $56.70 and a 200-day moving average price of $57.32. The stock has a market cap of $4.19 billion, a P/E ratio of 23.97 and a beta of 0.89. Columbia Sportswear has a 12 month low of $43.56 and a 12 month high of $66.00.
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Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.05. The company earned $388.70 million during the quarter, compared to analyst estimates of $392.02 million. Columbia Sportswear had a net margin of 7.48% and a return on equity of 12.14%. Columbia Sportswear’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, analysts anticipate that Columbia Sportswear will post $2.67 EPS for the current year.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in Columbia Sportswear by 2.5% in the second quarter. BlackRock Inc. now owns 2,042 shares of the company’s stock valued at $117,000 after buying an additional 50 shares during the period. BNP Paribas Arbitrage SA increased its stake in Columbia Sportswear by 67.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,990 shares of the company’s stock valued at $170,000 after buying an additional 1,204 shares during the period. Advisor Group Inc. acquired a new stake in Columbia Sportswear during the second quarter valued at approximately $172,000. Pacer Advisors Inc. acquired a new stake in Columbia Sportswear during the second quarter valued at approximately $178,000. Finally, BlueMountain Capital Management LLC acquired a new stake in Columbia Sportswear during the second quarter valued at approximately $201,000. 36.49% of the stock is currently owned by institutional investors.
Columbia Sportswear Company Profile
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor and active lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. The Company’s geographic segments are the United States, Latin America and Asia Pacific (LAAP), the Europe, Middle East and Africa (EMEA), and Canada.
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