Columbia Sportswear Co. (COLM) Upgraded to Buy by Canaccord Genuity
Canaccord Genuity upgraded shares of Columbia Sportswear Co. (NASDAQ:COLM) from a hold rating to a buy rating in a research report released on Tuesday morning. They currently have $72.00 price objective on the stock, up from their prior price objective of $59.00.
A number of other brokerages have also commented on COLM. Credit Suisse Group AG restated a hold rating on shares of Columbia Sportswear in a research note on Sunday, August 7th. B. Riley restated a neutral rating and issued a $64.00 target price on shares of Columbia Sportswear in a research note on Monday, August 1st. Citigroup Inc. lowered their price target on Columbia Sportswear from $69.00 to $68.00 and set a buy rating on the stock in a research report on Friday, July 29th. FBR & Co upped their price target on Columbia Sportswear from $62.00 to $68.00 and gave the company an outperform rating in a research report on Friday, July 29th. Finally, DA Davidson reiterated a buy rating and issued a $72.00 price target on shares of Columbia Sportswear in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $62.20.
Shares of Columbia Sportswear (NASDAQ:COLM) traded up 1.36% during midday trading on Tuesday, hitting $57.26. 44,214 shares of the company were exchanged. Columbia Sportswear has a one year low of $43.56 and a one year high of $66.00. The firm has a market cap of $3.99 billion, a P/E ratio of 22.83 and a beta of 0.97. The company’s 50 day moving average price is $55.59 and its 200 day moving average price is $57.64.
Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. Columbia Sportswear had a return on equity of 12.14% and a net margin of 7.48%. The company earned $388.70 million during the quarter, compared to analyst estimates of $392.02 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts expect that Columbia Sportswear will post $2.67 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.20%. The ex-dividend date was Tuesday, August 16th. Columbia Sportswear’s dividend payout ratio is 27.09%.
A number of institutional investors have recently bought and sold shares of COLM. BlackRock Inc. boosted its position in Columbia Sportswear by 2.5% in the second quarter. BlackRock Inc. now owns 2,042 shares of the company’s stock valued at $117,000 after buying an additional 50 shares in the last quarter. Advisor Group Inc. purchased a new position in Columbia Sportswear during the second quarter valued at about $172,000. Pacer Advisors Inc. purchased a new position in Columbia Sportswear during the second quarter valued at about $178,000. BlueMountain Capital Management LLC purchased a new position in Columbia Sportswear during the second quarter valued at about $201,000. Finally, Intrust Bank NA purchased a new position in Columbia Sportswear during the second quarter valued at about $222,000. Institutional investors and hedge funds own 36.55% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor and active lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. The Company’s geographic segments are the United States, Latin America and Asia Pacific (LAAP), the Europe, Middle East and Africa (EMEA), and Canada.
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