Citigroup began coverage on shares of Columbia Sportswear (NASDAQ:COLM) in a research report issued to clients and investors on Tuesday, Benzinga’s Daily Ratings Newsletter reports. The firm set a “buy” rating on the textile maker’s stock.
COLM has been the subject of several other reports. Zacks Investment Research lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Macquarie set a $118.00 price target on shares of Columbia Sportswear and gave the stock a “buy” rating in a research report on Friday, February 8th. Robert W. Baird boosted their price target on shares of Columbia Sportswear from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, February 8th. Canaccord Genuity reaffirmed a “hold” rating and issued a $104.00 price objective (up from $93.00) on shares of Columbia Sportswear in a research note on Friday, February 8th. Finally, BidaskClub downgraded shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Friday, January 11th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $107.13.
Shares of Columbia Sportswear stock traded up $1.19 during trading on Tuesday, hitting $104.52. The company’s stock had a trading volume of 791 shares, compared to its average volume of 299,514. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 2.15 and a beta of 0.68. Columbia Sportswear has a 52 week low of $78.82 and a 52 week high of $109.74.
Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, February 7th. The textile maker reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.41. The company had revenue of $917.60 million during the quarter, compared to analyst estimates of $859.06 million. Columbia Sportswear had a net margin of 9.57% and a return on equity of 16.79%. Columbia Sportswear’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $1.31 EPS. Equities analysts anticipate that Columbia Sportswear will post 4.43 EPS for the current fiscal year.
In other news, EVP Franco Fogliato sold 8,893 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $107.60, for a total transaction of $956,886.80. Following the transaction, the executive vice president now owns 16,944 shares in the company, valued at $1,823,174.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Peter J. Bragdon sold 10,824 shares of the company’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $102.80, for a total transaction of $1,112,707.20. Following the transaction, the chief accounting officer now owns 28,955 shares in the company, valued at approximately $2,976,574. The disclosure for this sale can be found here. Insiders sold 84,535 shares of company stock valued at $8,929,236 over the last quarter. 56.68% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of COLM. Brasada Capital Management LP increased its holdings in shares of Columbia Sportswear by 4.4% in the fourth quarter. Brasada Capital Management LP now owns 5,429 shares of the textile maker’s stock valued at $457,000 after purchasing an additional 229 shares during the period. Amalgamated Bank increased its holdings in Columbia Sportswear by 4.9% during the 4th quarter. Amalgamated Bank now owns 5,856 shares of the textile maker’s stock worth $492,000 after acquiring an additional 276 shares during the period. Neuberger Berman Group LLC increased its holdings in shares of Columbia Sportswear by 1.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 19,883 shares of the textile maker’s stock worth $1,851,000 after buying an additional 283 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Columbia Sportswear by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 13,842 shares of the textile maker’s stock worth $1,289,000 after buying an additional 292 shares during the last quarter. Finally, Harfst & Associates Inc. increased its holdings in shares of Columbia Sportswear by 7.6% in the 4th quarter. Harfst & Associates Inc. now owns 6,794 shares of the textile maker’s stock worth $571,000 after buying an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 38.01% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East and Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
Recommended Story: What is the Producer Price Index (PPI)?
Receive News & Ratings for Columbia Sportswear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Sportswear and related companies with MarketBeat.com's FREE daily email newsletter.