Zacks Investment Research downgrades Columbia Sportswear (NASDAQ:COLM) to Hold


Columbia Sportswear (NASDAQ:COLMGet a rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report released on Tuesday, Zacks.com reports. They currently have a price target of $92.00 on shares of the textile maker. Zacks Investment ResearchThe target price of indicates a potential upside of 4.51% from the company’s current price.

According to Zacks, “Columbia Sportswear shares have outperformed the industry over the past three months. The company benefits from its strong direct-to-consumer (DTC) business, which, coupled with a full-price retail landscape, has boosted fourth quarter 2021 results. During the quarter, both top and bottom results increased year-over-year and exceeded Zacks’ consensus estimate. The strong performance reflects the strength of the brands in the company. However, the company has been experiencing high SG&A costs and high ocean freight costs for some time. The year-over-year increase in SG&A expenses can be attributed to the costs of supporting the growth of the business, which include increased global retail, incentive compensation, demand creation and personnel costs. Management expects gross margin to contract by approximately 160 basis points and wait eigns nearly 50% in 2022.”

Several other research analysts have also recently commented on the company. Robert W. Baird downgraded Columbia Sportswear from an “outperforming” rating to a “neutral” rating and reduced its target price for the stock from $130.00 to $107.00 in a Tuesday 4 research note. january. Stifel Nicolaus downgraded Columbia Sportswear from a “buy” rating to a “hold” rating and reduced his target price for the stock from $126.00 to $111.00 in a Thursday, Dec. 16 research note. Cowen raised its price target on Columbia Sportswear from $110.00 to $116.00 and gave the stock an “outperform” rating in a Wednesday, Feb. 9 research note. StockNews.com began coverage of Columbia Sportswear in a report on Thursday, March 31. They issued a “buy” rating on the stock. Finally, Wolfe Research downgraded Columbia Sportswear to a “neutral” rating in a report on Tuesday, January 4. Six research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $109.57.

COLM share opened at $88.03 on Tuesday. The company has a market capitalization of $5.68 billion, a price/earnings ratio of 16.48, a PEG ratio of 1.68 and a beta of 0.90. Columbia Sportswear has a fifty-two week low of $83.61 and a fifty-two week high of $114.98. The stock has a fifty-day moving average of $92.06 and a 200-day moving average of $95.68.

Columbia Sportswear (NASDAQ:COLMGet a rating) last released its quarterly results on Thursday, February 3. The textile maker reported earnings per share of $2.39 for the quarter, beating the consensus estimate of $1.78 by $0.61. The company posted revenue of $1.13 billion in the quarter, versus a consensus estimate of $1.06 billion. Columbia Sportswear had a return on equity of 18.64% and a net margin of 11.33%. In the same quarter of the previous year, the company achieved EPS of $1.44. On average, analysts predict Columbia Sportswear will post an EPS of 5.76 for the current fiscal year.

Several hedge funds and other institutional investors have recently changed their positions in the stock. Atlanta Capital Management Co. LLC increased its equity stake in Columbia Sportswear by 3.5% during the fourth quarter. Atlanta Capital Management Co. LLC now owns 3,104,900 shares of the textile maker valued at $302,541,000 after buying an additional 104,451 shares last quarter. JPMorgan Chase & Co. increased its stake in Columbia Sportswear by 36.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,374,952 shares of the textile maker worth $133,975,000 after buying an additional 366,034 shares during the period. Invesco Ltd. increased its stake in Columbia Sportswear by 2.2% in the third quarter. Invesco Ltd. now owns 1,362,159 shares of the textile maker worth $130,550,000 after purchasing an additional 29,946 shares during the period. State Street Corp increased its stake in Columbia Sportswear by 2.7% in the fourth quarter. State Street Corp now owns 930,428 shares of the textile maker worth $90,661,000 after buying an additional 24,224 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Columbia Sportswear by 7.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 912,468 shares of the textile maker worth $87,451,000 after purchasing an additional 60,473 shares during the period. 53.95% of the shares are currently held by institutional investors.

Columbia Sportswear Company Profile (Get a rating)

Columbia Sportswear Co engages in the design, supply, marketing and distribution of outdoor and active lifestyle apparel, footwear, accessories and equipment. It operates through the following geographic segments: United States, Latin America and Asia-Pacific, Europe, Middle East and Africa, and Canada.

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