Columbia Sportswear Company (NASDAQ:COLM)‘s stock had its “buy” rating reiterated by equities research analysts at Pivotal Research in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $74.00 price target on the textile maker’s stock, up from their prior price target of $72.00. Pivotal Research’s target price would indicate a potential upside of 13.60% from the stock’s current price.
The analysts wrote, “We can appreciate COLM’s desire to remain conservative with its guidance, but the one thing that immediately jumps out at us on the default guidance is that 4Q SG&A is planned up 80bp (or $20M) to get to COLM’s FY17 SG&A outlook, and we believe the company will likely do better than this.””
A number of other equities research analysts have also issued reports on the company. Cowen and Company set a $58.00 price target on Columbia Sportswear and gave the stock a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised Columbia Sportswear from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Buckingham Research reissued a “neutral” rating and set a $58.00 price target on shares of Columbia Sportswear in a research note on Monday, July 17th. Robert W. Baird reissued a “buy” rating and set a $68.00 price target on shares of Columbia Sportswear in a research note on Sunday, September 17th. Finally, Canaccord Genuity reissued a “neutral” rating on shares of Columbia Sportswear in a research note on Wednesday, July 26th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $64.92.
Shares of Columbia Sportswear (NASDAQ COLM) traded up 1.27% during mid-day trading on Friday, reaching $65.14. The company’s stock had a trading volume of 386,796 shares. The company has a market cap of $4.54 billion, a PE ratio of 23.77 and a beta of 0.82. Columbia Sportswear has a 52-week low of $51.56 and a 52-week high of $67.60. The company has a 50-day moving average price of $60.56 and a 200 day moving average price of $57.88.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $747.37 million during the quarter, compared to analyst estimates of $735.67 million. Columbia Sportswear had a return on equity of 12.45% and a net margin of 8.18%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $1.18 EPS. Equities analysts expect that Columbia Sportswear will post $2.79 earnings per share for the current year.
In other Columbia Sportswear news, Director Edward S. George sold 6,664 shares of Columbia Sportswear stock in a transaction on Monday, August 28th. The stock was sold at an average price of $56.90, for a total transaction of $379,181.60. Following the completion of the sale, the director now directly owns 8,664 shares of the company’s stock, valued at approximately $492,981.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 58.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its position 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 in the last quarter. First Midwest Bank Trust Division raised its position in Columbia Sportswear by 4.9% during the 3rd quarter. First Midwest Bank Trust Division now owns 18,552 shares of the textile maker’s stock valued at $1,142,000 after purchasing an additional 863 shares in the last quarter. Strs Ohio raised its position in Columbia Sportswear by 4,475.0% during the 3rd quarter. Strs Ohio now owns 18,300 shares of the textile maker’s stock valued at $1,126,000 after purchasing an additional 17,900 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Columbia Sportswear by 10.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,563 shares of the textile maker’s stock valued at $149,000 after purchasing an additional 234 shares in the last quarter. Finally, Martin & Co. Inc. TN raised its position in Columbia Sportswear by 3.3% during the 2nd quarter. Martin & Co. Inc. TN now owns 36,845 shares of the textile maker’s stock valued at $2,139,000 after purchasing an additional 1,175 shares in the last quarter. 38.65% of the stock is owned by institutional investors and hedge funds.
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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