Short Interest in Columbia Sportswear Co. (COLM) Grows By 32.3%
Columbia Sportswear Co. (NASDAQ:COLM) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 741,918 shares, an increase of 32.3% from the August 31st total of 560,774 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average trading volume of 285,198 shares, the days-to-cover ratio is currently 2.6 days.
COLM has been the subject of several research reports. Canaccord Genuity upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $72.00 in a research report on Tuesday, September 20th. Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Monday, July 4th. DA Davidson reiterated a “buy” rating and issued a $72.00 target price on shares of Columbia Sportswear in a research report on Monday, July 18th. 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, Guggenheim started coverage on Columbia Sportswear in a research report on Friday, September 30th. They set a “buy” rating and a $71.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.75.
Several large investors have recently added to or reduced their stakes in COLM. BlackRock Inc. raised its stake in 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 in the last quarter. Advisor Group Inc. bought a new stake in Columbia Sportswear during the second quarter valued at $172,000. Pacer Advisors Inc. bought a new stake in Columbia Sportswear during the second quarter valued at $178,000. BlueMountain Capital Management LLC bought a new stake in Columbia Sportswear during the second quarter valued at $201,000. Finally, Intrust Bank NA bought a new stake in Columbia Sportswear during the second quarter valued at $222,000. Institutional investors own 36.55% of the company’s stock.
Shares of Columbia Sportswear (NASDAQ:COLM) opened at 57.01 on Wednesday. The company has a market cap of $3.98 billion, a P/E ratio of 22.73 and a beta of 0.89. Columbia Sportswear has a 1-year low of $43.56 and a 1-year high of $66.00. The stock has a 50 day moving average price of $56.20 and a 200-day moving average price of $57.40.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.05. Columbia Sportswear had a return on equity of 12.14% and a net margin of 7.48%. The company had revenue of $388.70 million for the quarter, compared to analyst estimates of $392.02 million. During the same period in the prior year, the company posted ($0.09) EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Analysts predict that Columbia Sportswear will post $2.67 earnings per share for the current fiscal year.
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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