Columbia Sportswear (NASDAQ: COLM) has been downgraded from Zacks investment research from a “buy” note to a “keep” note in a research note issued to investors on Tuesday, Zacks.com reports. They currently have a price target of $ 104.00 on the textile maker’s inventory. Zacks investment researchThe company’s target price would suggest a potential rise of 9.46% from the company’s previous close.
According to Zacks, “Columbia Sportswear has overtaken the industry since the start of the year. The company benefited from its strong direct-to-consumer e-commerce business, which continued to be a driving force in the second quarter of 2021. During the quarter, both profits and sales increased year-over-year and exceeded l ‘Zacks consensus estimate. Results were supported by a strong recovery in fundamental businesses, as well as better than expected performance in the US wholesale business and DTC’s brick and mortar businesses. DTC’s e-commerce sales continued to increase, with consumers increasing preference for online shopping. Certainly Columbia Sportswear is well positioned to take advantage of existing consumer and outdoor models. advice, even if it has cropped the view of the gross margin. “
A number of other brokerages have also published reports on COLM. TheStreet downgraded Columbia Sportswear’s stock from a “c +” rating to a “b-” rating in a report released on Wednesday, June 16. Robert W. Baird raised his price target for Columbia Sportswear stock from $ 120.00 to $ 130.00 and rated the stock as “outperforming” in a report released Thursday, June 10. Bank of America Downgraded Columbia Sportswear Shares from a ‘Buy’ Rating to a ‘Neutral’ Rating, Lowered its Share Price Target from $ 137.00 to $ 108.00 in Released Report Tuesday. Finally, Pivotal Research reissued a “hold” note and issued a price target of $ 116.00 on Columbia Sportswear shares in a report released on Wednesday, July 28. Five investment analysts rated the stock with a conservation rating and three issued a buy rating for the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $ 112.00.
Actions of COLME traded at $ 3.15 on Tuesday, reaching $ 95.01. 5,450 shares of the company were traded for an average volume of 361,543. Columbia Sportswear has a one-year low of $ 73.11 and a one-year high of $ 114.98. The company’s fifty-day simple moving average is $ 101.18 and its 200-day simple moving average is $ 103.02. The stock has a market cap of $ 6.27 billion, a price / earnings ratio of 24.81, a P / E / G ratio of 0.66, and a beta of 0.87.
Columbia Sportswear (NASDAQ: COLM) last released its results on Sunday, August 1. The textile maker reported EPS of $ 0.61 for the quarter, beating Thomson Reuters consensus estimate ($ 0.08) by $ 0.69. Columbia Sportswear had a net margin of 9.08% and a return on equity of 14.00%. The company posted revenue of $ 566.37 million for the quarter, compared to analysts’ estimates of $ 503.02 million. In the same quarter of last year, the company made EPS ($ 0.77). The company’s quarterly revenue increased 78.9% from the same quarter last year. As a group, equity research analysts predict that Columbia Sportswear will post 4.62 EPS for the current year.
In other news, EVP Lisa Kulok sold 525 shares of the company in a transaction dated Tuesday, August 31. The shares were sold for an average price of $ 103.13, for a total value of $ 54,143.25. The transaction was disclosed in a legal file with the Securities & Exchange Commission, accessible via this link. Company insiders own 40.33% of the company’s shares.
A number of hedge funds and other institutional investors have recently changed their holdings in COLM. Alliancebernstein LP increased its position in Columbia Sportswear by 0.9% during the 1st quarter. Alliancebernstein LP now owns 47,150 shares of the textile maker valued at $ 4,980,000 after acquiring 430 additional shares during the period. PNC Financial Services Group Inc. increased its holdings in Columbia Sportswear by 32.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,058 shares of the textile maker valued at $ 218,000 after purchasing an additional 499 shares in the last quarter. BlackRock Inc. increased its stake in Columbia Sportswear by 17.2% in the first quarter. BlackRock Inc. now owns 3,228,299 shares of the textile maker valued at $ 341,006,000 after purchasing an additional 474,751 shares in the last quarter. Principal Financial Group Inc. increased its stake in Columbia Sportswear by 18.7% in the first quarter. Principal Financial Group Inc. now owns 104,908 shares of the textile maker valued at $ 11,081,000 after purchasing an additional 16,515 shares in the last quarter. Finally, Maryland State Retirement & Pension System acquired a new position in Columbia Sportswear in the first quarter for a value of approximately $ 233,000. 46.64% of the shares are held by institutional investors.
Columbia Sportswear Company Profile
Columbia Sportswear Co is engaged in the design, supply, marketing and distribution of outdoor and active lifestyle apparel, footwear, accessories and equipment. It operates through the following geographic segments: the United States; Latin America and Asia-Pacific; Europe, Middle East and Africa; and Canadian.
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