Columbia Sportswear’s (COLM) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Columbia Sportswear (NASDAQ:COLM) in a report published on Friday,Benzinga reports. The brokerage currently has a $75.00 price objective on the textile maker’s stock.

Several other brokerages have also recently issued reports on COLM. Zacks Research upgraded shares of Columbia Sportswear from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Columbia Sportswear in a research report on Monday, December 29th. Wall Street Zen upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Citigroup lowered their target price on Columbia Sportswear from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Finally, Stifel Nicolaus dropped their price target on Columbia Sportswear from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.00.

Columbia Sportswear Stock Performance

Shares of COLM stock opened at $55.28 on Friday. Columbia Sportswear has a fifty-two week low of $47.47 and a fifty-two week high of $92.88. The firm has a market cap of $2.98 billion, a P/E ratio of 16.70 and a beta of 0.91. The business’s 50 day moving average price is $54.97 and its 200-day moving average price is $54.22.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, October 30th. The textile maker reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.16. The company had revenue of $943.43 million during the quarter, compared to analyst estimates of $917.02 million. Columbia Sportswear had a return on equity of 12.45% and a net margin of 5.45%.The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 earnings per share. As a group, equities analysts predict that Columbia Sportswear will post 4.1 EPS for the current year.

Institutional Investors Weigh In On Columbia Sportswear

A number of institutional investors have recently modified their holdings of the stock. CWM LLC raised its holdings in Columbia Sportswear by 1,362.1% in the third quarter. CWM LLC now owns 21,770 shares of the textile maker’s stock worth $1,139,000 after buying an additional 20,281 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Columbia Sportswear by 0.5% during the second quarter. Boston Trust Walden Corp now owns 1,198,524 shares of the textile maker’s stock valued at $73,206,000 after acquiring an additional 5,491 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Columbia Sportswear in the 2nd quarter worth approximately $335,000. Janney Montgomery Scott LLC bought a new position in Columbia Sportswear in the 2nd quarter valued at approximately $425,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Columbia Sportswear in the 2nd quarter valued at approximately $2,307,000. 47.76% of the stock is owned by hedge funds and other institutional investors.

Columbia Sportswear Company Profile

Columbia Sportswear Company develops, sources, markets and distributes a wide range of outdoor apparel, footwear and accessories designed for activities such as hiking, skiing, snowboarding and trail running. Its product portfolio includes weatherproof jackets and pants featuring proprietary technologies like Omni-Tech® waterproofing and Omni-Heat® thermal reflective lining, as well as activewear, footwear, hats, gloves and accessories under the Columbia® brand and complementary brands.

Founded in 1938 as the Columbia Hat Company in Portland, Oregon, the company initially focused on headwear before expanding into outerwear in the 1970s with the introduction of the Bugaboo® interchange jacket.