StockNews.com upgrades Columbia Sportswear (NASDAQ:COLM) to buy

Columbia Sportswear (NASDAQ:COLM – Get a rating) has been upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report released Friday to clients and investors.

Several other brokerages have also recently published reports on COLM. Robert W. Baird lowered his target price on Columbia Sportswear shares from $110.00 to $100.00 in a Friday, April 29 research note. TheStreet downgraded shares of Columbia Sportswear from a “b” rating to a “c+” rating in a Thursday, April 28 research note. Cowen lowered his price target on Columbia Sportswear from $116.00 to $100.00 in a Friday, May 13 research report. Bank of America downgraded Columbia Sportswear from a “neutral” rating to an “underperforming” rating and cut its price target for the stock from $108.00 to $80.00 in a Friday research report April 29. Finally, Cowen lowered his price target on Columbia Sportswear shares from $116.00 to $100.00 in a Friday, May 13 research report. One research analyst rated the stock with a sell rating, four gave the company a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, Columbia Sportswear currently has a consensus rating of “Hold” and a consensus target price of $103.43.

Shares of COLM traded at $2.27 at midday on Friday, hitting $75.23. 351,160 shares of the company were traded, with an average volume of 439,555. The stock has a market capitalization of $4.73 billion, a price-earnings ratio of 13.55, a growing price-earnings ratio of 1.59 and a beta of 0.91. Columbia Sportswear has a 1-year minimum of $70.91 and a 1-year maximum of $107.50. The company has a 50-day moving average of $81.65 and a 200-day moving average of $89.75.

Columbia Sportswear (NASDAQ:COLM – Get a rating) last released its quarterly earnings data on Thursday, April 28. The textile maker reported EPS of $1.03 for the quarter, beating the consensus estimate of $0.86 by $0.17. The company posted revenue of $761.50 million in the quarter, compared to analyst estimates of $762.88 million. Columbia Sportswear had a return on equity of 19.34% and a net margin of 11.19%. Columbia Sportswear’s quarterly revenue increased 21.7% year over year. During the same period of the previous year, the company achieved EPS of $0.84. On average, equity research analysts expect Columbia Sportswear to post EPS of 5.88 for the current year.

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,568 shares of Columbia Sportswear in a trade dated Tuesday, May 3. The stock was sold at an average price of $81.14, for a total value of $208,367.52. Following completion of the transaction, the administrator now directly owns 112,627 shares of the company, valued at approximately $9,138,554.78. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, director Ronald E.Nelson sold 3,706 shares of the company in a trade that took place on Thursday, May 5. The shares were sold at an average price of $80.16, for a total transaction of $297,072.96. Following completion of the transaction, the administrator now directly owns 14,402 shares of the company, valued at approximately $1,154,464.32. Disclosure of this sale can be found here. 41.15% of the shares are held by insiders.

Hedge funds and other institutional investors have recently changed their positions in the company. Teacher Retirement System of Texas increased its position in Columbia Sportswear by 31.5% in Q4. Teacher Retirement System of Texas now owns 7,035 shares of the textile maker valued at $685,000 after buying 1,687 additional shares last quarter. Citigroup Inc. increased its stake in shares of Columbia Sportswear by 28.0% during the fourth quarter. Citigroup Inc. now owns 13,222 shares of the textile maker worth $1,288,000 after buying 2,896 additional shares during the period. Pictet Asset Management SA increased its stake in Columbia Sportswear by 32.8% in the fourth quarter. Pictet Asset Management SA now owns 464,750 shares of the textile maker worth $45,285,000 after acquiring an additional 114,671 shares in the last quarter. Aviva PLC increased its stake in Columbia Sportswear by 20.7% during the fourth quarter. Aviva PLC now owns 35,769 shares of the textile maker worth $3,485,000 after acquiring 6,145 additional shares last quarter. Finally, Strs Ohio acquired a new position in Columbia Sportswear during Q4 worth approximately $1,622,000. Institutional investors and hedge funds own 48.65% of the company’s shares.

Columbia Sportswear Company Profile (Get a rating)

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets and distributes outdoor, active and everyday apparel, footwear, accessories and equipment in the United States, Latin America, Asia-Pacific, Europe, the Middle East, Africa and Canada. The company provides clothing, accessories and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, running , water sports, yoga, golf and adventure travel.

Further reading

Analyst Recommendations for Columbia Sportswear (NASDAQ:COLM)

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