BidaskClub Upgrades Columbia Sportswear (COLM) to “Strong-Buy”

Columbia Sportswear (NASDAQ:COLM) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Several other brokerages have also issued reports on COLM. Stifel Nicolaus set a $74.00 price target on shares of Columbia Sportswear and gave the company a “hold” rating in a report on Friday, December 15th. FBR & Co reaffirmed a “buy” rating and set a $68.00 price target on shares of Columbia Sportswear in a report on Friday, October 27th. Citigroup reaffirmed a “buy” rating and set a $82.00 price target on shares of Columbia Sportswear in a report on Tuesday. Guggenheim reissued a “buy” rating and set a $75.00 target price on shares of Columbia Sportswear in a report on Friday, December 15th. Finally, Robert W. Baird reissued a “buy” rating and set a $68.00 target price on shares of Columbia Sportswear in a report on Sunday, October 22nd. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $69.14.

Shares of Columbia Sportswear (NASDAQ COLM) opened at $71.60 on Thursday. The stock has a market cap of $4,969.62, a P/E ratio of 25.66, a P/E/G ratio of 2.70 and a beta of 0.89. Columbia Sportswear has a 1-year low of $51.56 and a 1-year high of $71.82.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results 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 company had revenue of $747.37 million for the quarter, compared to analyst estimates of $735.67 million. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.30%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 EPS. equities analysts predict that Columbia Sportswear will post 2.71 EPS for the current year.

In other news, Director Walter Klenz sold 11,608 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $66.05, for a total value of $766,708.40. Following the transaction, the director now owns 21,619 shares in the company, valued at approximately $1,427,934.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Malia H. Wasson sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $61.68, for a total transaction of $55,512.00. Following the completion of the transaction, the director now owns 1,089 shares in the company, valued at approximately $67,169.52. The disclosure for this sale can be found here. Insiders own 58.86% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new position in shares of Columbia Sportswear in the 2nd quarter worth approximately $3,918,000. State Street Corp lifted its position in shares of Columbia Sportswear by 8.8% during the 2nd quarter. State Street Corp now owns 538,316 shares of the textile maker’s stock valued at $31,254,000 after acquiring an additional 43,315 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Columbia Sportswear by 8.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,640,985 shares of the textile maker’s stock valued at $95,276,000 after acquiring an additional 131,329 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Columbia Sportswear by 13.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 206,632 shares of the textile maker’s stock valued at $12,724,000 after acquiring an additional 24,950 shares during the period. Finally, Harfst & Associates Inc. acquired a new position in shares of Columbia Sportswear during the 2nd quarter valued at $334,000. Hedge funds and other institutional investors own 38.80% of the company’s stock.

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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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