Columbia Sportswear Company (NASDAQ:COLM) Downgraded by Zacks Investment Research
Columbia Sportswear Company (NASDAQ:COLM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “Shares of Columbia Sportswear have underperformed the industry in the last three months. Despite a robust brand portfolio, strategic partnerships and efforts to strengthen its Sorel brand, Columbia Sportswear has been facing challenges in the U.S. region, mainly in its U.S. wholesale front. This, along with tough geopolitical conditions in Korea is hampering the overall sales of the company. Its Columbia and prAna brands are suffering setbacks in Korea as there is a general shift of consumer preference away from outdoor sector in the region. Moreover, higher excise duties may put pressure on margin and, in turn, mar the overall profitability. Also, currency headwind remains a major concern for the company and is expected to impact negatively in 2017. Notably, the estimates have been stable ahead of the company’s second-quarter 2017 earnings release.”
Other analysts have also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) cut Columbia Sportswear from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Canaccord Genuity cut Columbia Sportswear from a “buy” rating to a “hold” rating and dropped their target price for the company from $64.00 to $60.00 in a research report on Friday, April 28th. Forward View cut Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Saturday, May 13th. Cowen and Company set a $58.00 target price on Columbia Sportswear and gave the company a “hold” rating in a research report on Wednesday, July 19th. Finally, Buckingham Research reaffirmed a “neutral” rating and set a $58.00 target price on shares of Columbia Sportswear in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.83.
Shares of Columbia Sportswear (COLM) traded down 2.22% on Monday, reaching $56.36. The company’s stock had a trading volume of 92,106 shares. Columbia Sportswear has a one year low of $51.56 and a one year high of $63.55. The firm has a 50-day moving average price of $56.55 and a 200 day moving average price of $56.38. The firm has a market capitalization of $3.93 billion, a PE ratio of 20.27 and a beta of 0.79.
Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, April 27th. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.10. The business had revenue of $543.80 million for the quarter, compared to analysts’ expectations of $533.82 million. Columbia Sportswear had a return on equity of 12.80% and a net margin of 8.19%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. On average, analysts anticipate that Columbia Sportswear will post $2.80 earnings per share for the current fiscal year.
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In related news, Director Edward S. George sold 1,776 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $53.59, for a total value of $95,175.84. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $107,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 58.86% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Columbia Sportswear by 31.7% in the first quarter. Vanguard Group Inc. now owns 2,774,168 shares of the textile maker’s stock worth $162,982,000 after buying an additional 667,856 shares during the period. Atlanta Capital Management Co. L L C raised its position in shares of Columbia Sportswear by 22.4% in the first quarter. Atlanta Capital Management Co. L L C now owns 2,720,251 shares of the textile maker’s stock worth $163,459,000 after buying an additional 497,099 shares during the period. BlackRock Inc. raised its position in shares of Columbia Sportswear by 78,608.2% in the first quarter. BlackRock Inc. now owns 1,635,556 shares of the textile maker’s stock worth $96,089,000 after buying an additional 1,633,478 shares during the period. JPMorgan Chase & Co. raised its position in shares of Columbia Sportswear by 10.7% in the first quarter. JPMorgan Chase & Co. now owns 1,509,656 shares of the textile maker’s stock worth $88,693,000 after buying an additional 145,729 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Columbia Sportswear by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,111,317 shares of the textile maker’s stock worth $54,188,000 after buying an additional 7,298 shares during the period. Institutional investors own 39.60% of the company’s stock.
About Columbia Sportswear
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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