Goldman Sachs Group Inc. Upgrades Columbia Sportswear Co. (COLM) to Conviction-Buy
Columbia Sportswear Co. (NASDAQ:COLM) was upgraded by Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a research note issued to investors on Friday.
Several other equities research analysts have also commented on the stock. B. Riley reiterated a “neutral” rating and issued a $64.00 price objective on shares of Columbia Sportswear in a research note on Wednesday, July 27th. Credit Suisse Group AG reiterated a “hold” rating on shares of Columbia Sportswear in a research note on Sunday, August 7th. Zacks Investment Research upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, July 4th. Brean Capital reiterated a “hold” rating on shares of Columbia Sportswear in a research note on Monday, July 18th. Finally, DA Davidson reiterated a “buy” rating and issued a $72.00 price objective on shares of Columbia Sportswear in a research note on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Columbia Sportswear has an average rating of “Hold” and an average price target of $63.50.
Shares of Columbia Sportswear (NASDAQ:COLM) opened at 59.32 on Friday. The firm has a market capitalization of $4.14 billion, a P/E ratio of 23.65 and a beta of 0.89. The stock has a 50 day moving average of $56.32 and a 200-day moving average of $57.33. Columbia Sportswear has a 52-week low of $43.56 and a 52-week high of $66.00.
Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.05. Columbia Sportswear had a net margin of 7.48% and a return on equity of 12.14%. The company had revenue of $388.70 million for the quarter, compared to analyst estimates of $392.02 million. During the same quarter in the prior year, the business posted ($0.09) EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities analysts expect that Columbia Sportswear will post $2.67 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COLM. Prudential Financial Inc. acquired a new position in Columbia Sportswear during the first quarter valued at approximately $482,000. BlackRock Inc. increased its position in Columbia Sportswear by 15.8% in the first quarter. BlackRock Inc. now owns 1,992 shares of the company’s stock valued at $119,000 after buying an additional 272 shares during the period. BlackRock Group LTD increased its position in Columbia Sportswear by 17.1% in the first quarter. BlackRock Group LTD now owns 24,523 shares of the company’s stock valued at $1,473,000 after buying an additional 3,578 shares during the period. JPMorgan Chase & Co. increased its position in Columbia Sportswear by 127.6% in the first quarter. JPMorgan Chase & Co. now owns 1,214,448 shares of the company’s stock valued at $72,976,000 after buying an additional 680,868 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in Columbia Sportswear by 76.1% in the first quarter. TimesSquare Capital Management LLC now owns 619,000 shares of the company’s stock valued at $37,196,000 after buying an additional 267,500 shares during the period. 36.55% of the stock is owned by institutional investors.
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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