Columbia Sportswear (COLM) Upgraded by Zacks Investment Research to “Buy”
Columbia Sportswear (NASDAQ:COLM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $82.00 target price on the textile maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.56% from the stock’s current price.
According to Zacks, “Shares of Columbia Sportswear have outperformed the industry in the past year on the back of a solid surprise history and sturdy performance of the company’s European wholesale and U.S. direct-to-consumer businesses. In fact, the company’s top- and bottom-line results in the third quarter of 2017 were primarily driven by improved sales in all international regions. Incidentally, the company is on track with Project CONNECT initiative to drive revenues, capture efficiencies, improve marketing processes and lower SG&A costs. Further as part of the company’s marketing initiatives, it has developed several shop-in-shops and enhanced the number of brand presentations in key partner store locations. However, the company has been facing challenges in the U.S. region, especially on its wholesale front. Moreover, the company remains prone to headwinds such as volatility in the prices of several raw materials and currency fluctuations.”
A number of other equities analysts have also recently issued reports on COLM. Stifel Nicolaus reiterated a “hold” rating and issued a $60.00 price objective on shares of Columbia Sportswear in a report on Wednesday, October 4th. Pivotal Research initiated coverage on Columbia Sportswear in a report on Thursday, October 5th. They issued a “buy” rating and a $72.00 price objective for the company. Robert W. Baird reiterated a “buy” rating and issued a $68.00 price objective on shares of Columbia Sportswear in a report on Sunday, October 22nd. FBR & Co reiterated a “buy” rating and issued a $68.00 price objective on shares of Columbia Sportswear in a report on Friday, October 27th. Finally, Citigroup upped their price objective on Columbia Sportswear from $68.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $70.93.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, October 26th. The textile maker reported $1.25 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $747.37 million during the quarter, compared to analysts’ expectations of $735.67 million. During the same period in the previous year, the business earned $1.18 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. equities analysts anticipate that Columbia Sportswear will post 2.7 EPS for the current fiscal year.
In other news, Director Walter Klenz sold 11,608 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $66.05, for a total value of $766,708.40. Following the completion of the sale, the director now owns 21,619 shares of the company’s stock, valued at approximately $1,427,934.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Malia H. Wasson sold 900 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $61.68, for a total value of $55,512.00. Following the completion of the sale, the director now directly owns 1,089 shares of the company’s stock, valued at approximately $67,169.52. The disclosure for this sale can be found here. Insiders own 58.86% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Columbia Sportswear by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,802,549 shares of the textile maker’s stock valued at $162,716,000 after acquiring an additional 28,381 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Columbia Sportswear by 0.8% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,888,128 shares of the textile maker’s stock valued at $116,271,000 after purchasing an additional 15,673 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Columbia Sportswear by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,789,254 shares of the textile maker’s stock valued at $108,662,000 after purchasing an additional 148,269 shares during the last quarter. BlackRock Inc. boosted its stake in Columbia Sportswear by 6.0% during the 2nd quarter. BlackRock Inc. now owns 1,733,820 shares of the textile maker’s stock valued at $100,665,000 after purchasing an additional 98,264 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Columbia Sportswear by 14.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,072,520 shares of the textile maker’s stock valued at $66,046,000 after purchasing an additional 137,900 shares during the last quarter. 39.00% of the stock is owned by institutional investors.
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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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