Columbia Sportswear Co. (COLM) Shares Gap Up to $57.76
Columbia Sportswear Co. (NASDAQ:COLM)’s share price gapped up before the market opened on Friday . The stock had previously closed at $57.41, but opened at $57.76. Columbia Sportswear shares last traded at $59.18, with a volume of 61,422 shares changing hands.
COLM has been the topic of several recent research reports. Stifel Nicolaus increased their price objective on Columbia Sportswear from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, April 19th. Citigroup Inc. increased their price objective on Columbia Sportswear from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, April 29th. Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Monday. Morgan Stanley reiterated a “sell” rating on shares of Columbia Sportswear in a research report on Saturday, April 30th. Finally, B. Riley reiterated a “neutral” rating and set a $59.00 price objective on shares of Columbia Sportswear in a research report on Sunday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $62.25.
The firm has a market capitalization of $4.14 billion and a PE ratio of 23.50. The company’s 50 day moving average is $56.18 and its 200 day moving average is $55.79.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.12. The firm had revenue of $525.10 million for the quarter, compared to analysts’ expectations of $493.66 million. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. Equities research analysts expect that Columbia Sportswear Co. will post $2.68 earnings per share for the current year.
In other Columbia Sportswear news, Director Ronald E. Nelson sold 2,776 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $53.20, for a total value of $147,683.20. Following the sale, the director now owns 3,080 shares of the company’s stock, valued at $163,856. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Peter J. Bragdon sold 5,128 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $57.95, for a total value of $297,167.60. Following the completion of the sale, the chief accounting officer now directly owns 14,157 shares in the company, valued at approximately $820,398.15. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System raised its stake in shares of Columbia Sportswear by 20.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,121 shares of the company’s stock worth $1,079,000 after buying an additional 3,697 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Columbia Sportswear by 3.0% in the fourth quarter. Rhumbline Advisers now owns 34,041 shares of the company’s stock worth $1,660,000 after buying an additional 990 shares during the last quarter. Sei Investments Co. raised its stake in shares of Columbia Sportswear by 564.1% in the fourth quarter. Sei Investments Co. now owns 46,190 shares of the company’s stock worth $2,252,000 after buying an additional 39,235 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Columbia Sportswear by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 53,194 shares of the company’s stock worth $2,594,000 after buying an additional 788 shares during the last quarter. Finally, IronBridge Capital Management LP raised its stake in shares of Columbia Sportswear by 157.9% in the fourth quarter. IronBridge Capital Management LP now owns 101,560 shares of the company’s stock worth $4,952,000 after buying an additional 62,180 shares during the last quarter.
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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