Columbia Sportswear (COLM) Stock Rating Lowered by Zacks Investment Research

Columbia Sportswear (NASDAQ:COLM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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 also recently commented on the stock. DA Davidson set a $77.00 target price on shares of Columbia Sportswear and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Stifel Nicolaus set a $74.00 target price on shares of Columbia Sportswear and gave the stock a “hold” rating in a research note on Friday, December 15th. Citigroup upped their target price on shares of Columbia Sportswear from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Pivotal Research restated a “buy” rating and issued a $74.00 target price (up from $72.00) on shares of Columbia Sportswear in a research note on Friday, October 27th. Finally, Robert W. Baird restated a “buy” rating and issued a $68.00 target price on shares of Columbia Sportswear in a research note on Sunday, October 22nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.93.

Shares of Columbia Sportswear (NASDAQ COLM) traded up $0.57 during trading hours on Wednesday, reaching $73.05. 232,060 shares of the company traded hands, compared to its average volume of 227,009. The company has a market cap of $5,090.00, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 2.44 and a beta of 0.89. Columbia Sportswear has a one year low of $51.56 and a one year high of $74.64.

Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, October 26th. The textile maker reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.10. The business had revenue of $747.37 million for the quarter, compared to the consensus estimate of $735.67 million. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.30%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 EPS. analysts forecast that Columbia Sportswear will post 2.7 EPS for the current year.

In other news, Director Walter Klenz sold 11,608 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $66.05, for a total transaction of $766,708.40. Following the transaction, the director now directly owns 21,619 shares in the company, valued at $1,427,934.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Malia H. Wasson sold 900 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $61.68, for a total transaction of $55,512.00. Following the transaction, the director now owns 1,089 shares in the company, valued at $67,169.52. The disclosure for this sale can be found here. 58.86% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Columbia Sportswear by 1.0% during the second quarter. Vanguard Group Inc. now owns 2,802,549 shares of the textile maker’s stock valued at $162,716,000 after purchasing an additional 28,381 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Columbia Sportswear by 0.8% during the third 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 in the last quarter. JPMorgan Chase & Co. lifted its position in Columbia Sportswear by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 1,789,254 shares of the textile maker’s stock valued at $108,662,000 after acquiring an additional 148,269 shares during the last quarter. BlackRock Inc. lifted its position in Columbia Sportswear by 6.0% during the second quarter. BlackRock Inc. now owns 1,733,820 shares of the textile maker’s stock valued at $100,665,000 after acquiring an additional 98,264 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Columbia Sportswear by 14.8% during the third quarter. Victory Capital Management Inc. now owns 1,072,520 shares of the textile maker’s stock valued at $66,046,000 after acquiring an additional 137,900 shares during the last quarter. Hedge funds and other institutional investors own 39.00% of the company’s stock.

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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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