Columbia Sportswear (COLM) Lifted to Buy at DA Davidson

DA Davidson upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a neutral rating to a buy rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. DA Davidson currently has $105.00 target price on the textile maker’s stock.

A number of other equities analysts have also commented on COLM. Cowen raised Columbia Sportswear from a market perform rating to an outperform rating and set a $59.00 price target for the company in a research note on Wednesday, August 15th. Buckingham Research increased their price target on Columbia Sportswear from $80.00 to $84.00 and gave the company a neutral rating in a research note on Thursday, August 16th. BidaskClub lowered Columbia Sportswear from a buy rating to a hold rating in a research note on Tuesday, August 28th. Wedbush increased their price target on Columbia Sportswear from $102.00 to $103.00 and gave the company an outperform rating in a research note on Wednesday, October 3rd. Finally, Pivotal Research set a $94.00 price target on Columbia Sportswear and gave the company a hold rating in a research note on Wednesday, October 24th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Columbia Sportswear currently has an average rating of Buy and a consensus price target of $90.76.

NASDAQ:COLM opened at $91.33 on Thursday. Columbia Sportswear has a 12-month low of $67.32 and a 12-month high of $95.58. The stock has a market cap of $6.30 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.33 and a beta of 0.71.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, October 25th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.14. Columbia Sportswear had a return on equity of 15.43% and a net margin of 5.56%. The firm had revenue of $795.80 million during the quarter, compared to analysts’ expectations of $791.25 million. As a group, analysts forecast that Columbia Sportswear will post 3.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 15th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 14th. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 1.05%. Columbia Sportswear’s dividend payout ratio is presently 32.21%.

Columbia Sportswear announced that its board has initiated a stock repurchase plan on Monday, August 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the textile maker to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, Director Andy D. Bryant sold 13,274 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $91.75, for a total value of $1,217,889.50. Following the completion of the sale, the director now directly owns 42,060 shares of the company’s stock, valued at approximately $3,859,005. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Bany sold 19,946 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $88.91, for a total value of $1,773,398.86. Following the completion of the sale, the director now directly owns 11,610 shares of the company’s stock, valued at $1,032,245.10. The disclosure for this sale can be found here. 56.68% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Columbia Sportswear by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,275,641 shares of the textile maker’s stock valued at $304,864,000 after purchasing an additional 100,703 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Columbia Sportswear by 9.5% in the 3rd quarter. BlackRock Inc. now owns 1,323,116 shares of the textile maker’s stock valued at $123,142,000 after purchasing an additional 114,543 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Columbia Sportswear by 28.5% in the 3rd quarter. Acadian Asset Management LLC now owns 985,761 shares of the textile maker’s stock valued at $91,741,000 after purchasing an additional 218,489 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Columbia Sportswear by 143.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 973,401 shares of the textile maker’s stock valued at $89,955,000 after purchasing an additional 573,517 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Columbia Sportswear by 3.4% in the 3rd quarter. Loomis Sayles & Co. L P now owns 452,790 shares of the textile maker’s stock valued at $42,141,000 after purchasing an additional 15,016 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

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Analyst Recommendations for Columbia Sportswear (NASDAQ:COLM)

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