Zacks Investment Research Lowers Columbia Sportswear (COLM) to Hold

Zacks Investment Research lowered shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a hold rating in a report released 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.”

Several other analysts have also weighed in on COLM. Stifel Nicolaus reissued a hold rating and set a $60.00 price objective on shares of Columbia Sportswear in a report on Wednesday, October 4th. Pivotal Research started coverage on Columbia Sportswear in a report on Thursday, October 5th. They set a buy rating and a $72.00 price objective on the stock. Robert W. Baird reissued a buy rating and set a $68.00 price objective on shares of Columbia Sportswear in a report on Sunday, October 22nd. FBR & Co reissued a buy rating and set a $68.00 price objective on shares of Columbia Sportswear in a report on Friday, October 27th. Finally, Citigroup lifted their price objective on Columbia Sportswear from $68.00 to $73.00 and gave the stock a buy rating in a report on Friday, October 27th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Columbia Sportswear has an average rating of Buy and a consensus price target of $70.93.

Shares of Columbia Sportswear (COLM) traded up $1.10 during trading hours on Wednesday, hitting $73.91. The stock had a trading volume of 234,838 shares, compared to its average volume of 160,229. Columbia Sportswear has a one year low of $51.56 and a one year high of $74.64. The firm has a market cap of $5,087.71, a price-to-earnings ratio of 26.49, a PEG ratio of 2.42 and a beta of 0.88.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, October 26th. The textile maker reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.10. Columbia Sportswear had a return on equity of 12.30% and a net margin of 8.18%. The company had revenue of $747.37 million for the quarter, compared to analyst estimates of $735.67 million. During the same quarter last year, the firm earned $1.18 EPS. Columbia Sportswear’s revenue for the quarter was up .2% compared to the same quarter last year. sell-side analysts anticipate that Columbia Sportswear will post 2.7 EPS for the current fiscal year.

In other Columbia Sportswear news, Director Malia H. Wasson sold 900 shares of Columbia Sportswear stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $61.68, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Walter Klenz sold 11,608 shares of Columbia Sportswear stock in a transaction 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 completion of the transaction, the director now owns 21,619 shares of the company’s stock, valued at approximately $1,427,934.95. The disclosure for this sale can be found here. 58.86% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of COLM. Schwab Charles Investment Management Inc. raised its position in Columbia Sportswear by 3.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 204,514 shares of the textile maker’s stock valued at $11,875,000 after purchasing an additional 6,649 shares during the last quarter. Legal & General Group Plc raised its position in Columbia Sportswear by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 10,352 shares of the textile maker’s stock valued at $601,000 after purchasing an additional 471 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Columbia Sportswear by 247.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,237 shares of the textile maker’s stock valued at $246,000 after purchasing an additional 3,017 shares during the last quarter. Prudential Financial Inc. raised its position in Columbia Sportswear by 5.6% in the 2nd quarter. Prudential Financial Inc. now owns 5,143 shares of the textile maker’s stock valued at $299,000 after purchasing an additional 275 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Columbia Sportswear by 3.5% in the 2nd quarter. Franklin Resources Inc. now owns 451,612 shares of the textile maker’s stock valued at $26,221,000 after purchasing an additional 15,183 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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