Canaccord Genuity Reiterates “Buy” Rating for Columbia Sportswear Co. (COLM)
Columbia Sportswear Co. (NASDAQ:COLM)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. They currently have a $72.00 price objective on the stock. Canaccord Genuity’s price target indicates a potential upside of 21.58% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. 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 report on Monday, July 4th. DA Davidson reiterated a “buy” rating and issued a $72.00 target price on shares of Columbia Sportswear in a research report on Monday, July 18th. Citigroup Inc. reduced their target price on shares of Columbia Sportswear from $69.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Guggenheim began coverage on shares of Columbia Sportswear in a research report on Friday, September 30th. They issued a “buy” rating and a $71.00 target price for the company. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $71.00 target price on shares of Columbia Sportswear in a research report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.50.
Shares of Columbia Sportswear (NASDAQ:COLM) traded up 1.50% during midday trading on Tuesday, reaching $60.11. 180,303 shares of the company were exchanged. Columbia Sportswear has a 52 week low of $43.56 and a 52 week high of $66.00. The firm has a 50-day moving average of $56.70 and a 200 day moving average of $57.32. The firm has a market capitalization of $4.19 billion, a P/E ratio of 23.97 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data 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. The company earned $388.70 million during the quarter, compared to analysts’ expectations of $392.02 million. Columbia Sportswear had a net margin of 7.48% and a return on equity of 12.14%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.09) earnings per share. On average, equities research analysts expect that Columbia Sportswear will post $2.67 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Silvercrest Asset Management Group LLC acquired a new position in Columbia Sportswear during the first quarter valued at approximately $36,550,000. Atlanta Capital Management Co. L L C raised its position in Columbia Sportswear by 21.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 3,314,878 shares of the company’s stock valued at $190,738,000 after buying an additional 594,627 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Columbia Sportswear by 300.0% in the first quarter. Goldman Sachs Group Inc. now owns 475,516 shares of the company’s stock valued at $28,574,000 after buying an additional 356,630 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Columbia Sportswear by 19.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,098,115 shares of the company’s stock valued at $63,186,000 after buying an additional 181,853 shares during the last quarter. Finally, Friess Associates LLC acquired a new position in Columbia Sportswear during the first quarter valued at approximately $10,018,000. 36.49% of the stock is owned by institutional investors.
Columbia Sportswear Company Profile
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.
Receive News & Ratings for Columbia Sportswear Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Sportswear Co. and related companies with MarketBeat.com's FREE daily email newsletter.