Columbia Sportswear Co. (COLM) Stock Rating Lowered by Zacks Investment Research
Columbia Sportswear Co. (NASDAQ:COLM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “Estimates have been revised downward over the past 30 days since Columbia Sportswear reported loss for the second quarter after posting profits for the previous three quarters. The company has been posting decent results on the back of strategic acquisitions and the success of its flagship brands. Strong sales increase in most of its geographical segments in particular the U.S. and Europe, have been aiding top-line growth. It has also been successful in driving renewed growth in North America and Europe direct wholesale markets through innovative products and strong relationships with brand-enhancing retail partners. Moreover, the recent athleisure trend and growing market of casual and sportswear also boost the company’s market traction. However, unfavorable currency translation and soft consumer spending in several economies remain overhangs..”
A number of other brokerages have also weighed in on COLM. DA Davidson reaffirmed a “buy” rating and set a $72.00 target price on shares of Columbia Sportswear in a research report on Monday, July 18th. Brean Capital reaffirmed a “hold” rating on shares of Columbia Sportswear in a research report on Monday, July 18th. B. Riley reaffirmed a “neutral” rating and set a $64.00 target price on shares of Columbia Sportswear in a research report on Wednesday, July 27th. Citigroup Inc. decreased their target price on Columbia Sportswear from $69.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Finally, FBR & Co lifted their target price on Columbia Sportswear from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.20.
Columbia Sportswear (NASDAQ:COLM) traded down 0.62% during midday trading on Wednesday, hitting $56.03. The company had a trading volume of 169,072 shares. The stock has a market capitalization of $3.91 billion, a PE ratio of 22.34 and a beta of 0.97. The stock has a 50 day moving average price of $55.95 and a 200-day moving average price of $57.53. Columbia Sportswear has a 52 week low of $43.56 and a 52 week high of $66.00.
Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.05. The business earned $388.70 million during the quarter, compared to analyst estimates of $392.02 million. Columbia Sportswear had a return on equity of 12.14% and a net margin of 7.48%. Columbia Sportswear’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. On average, equities analysts predict that Columbia Sportswear will post $2.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.68 annualized dividend and a yield of 1.21%. Columbia Sportswear’s dividend payout ratio (DPR) is 27.09%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Columbia Sportswear by 2.5% in the second quarter. BlackRock Inc. now owns 2,042 shares of the company’s stock valued at $117,000 after buying an additional 50 shares during the period. Eqis Capital Management Inc. increased its position in shares of Columbia Sportswear by 1.8% in the second quarter. Eqis Capital Management Inc. now owns 4,003 shares of the company’s stock valued at $230,000 after buying an additional 72 shares during the period. Legal & General Group Plc increased its position in shares of Columbia Sportswear by 5.1% in the first quarter. Legal & General Group Plc now owns 5,866 shares of the company’s stock valued at $356,000 after buying an additional 285 shares during the period. Stifel Financial Corp increased its position in shares of Columbia Sportswear by 7.4% in the second quarter. Stifel Financial Corp now owns 4,773 shares of the company’s stock valued at $275,000 after buying an additional 327 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Columbia Sportswear by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 3,929 shares of the company’s stock valued at $226,000 after buying an additional 485 shares during the period. Hedge funds and other institutional investors own 36.55% of the company’s stock.
About Columbia Sportswear
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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