Canaccord Genuity Reiterates “Buy” Rating for Columbia Sportswear Co. (COLM)
Columbia Sportswear Co. (NASDAQ:COLM)‘s stock had its “buy” rating reissued by equities research analysts at Canaccord Genuity in a note issued to investors on Tuesday. They presently have a $72.00 target price on the stock. Canaccord Genuity’s price target would suggest a potential upside of 21.58% from the company’s previous close.
Several other analysts also recently commented on the stock. Goldman Sachs Group Inc. restated a “buy” rating and set a $71.00 price objective on shares of Columbia Sportswear in a research report on Monday, October 10th. Guggenheim started coverage on shares of Columbia Sportswear in a research note on Friday, September 30th. They set a “buy” rating and a $71.00 target price for the company. Zacks Investment Research cut shares of Columbia Sportswear from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Brean Capital reaffirmed a “hold” rating on shares of Columbia Sportswear in a research note on Thursday, September 22nd. Finally, KeyCorp started coverage on shares of Columbia Sportswear in a research note on Thursday, September 22nd. They set a “sector weight” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Columbia Sportswear presently has a consensus rating of “Hold” and a consensus price target of $63.50.
Shares of Columbia Sportswear (NASDAQ:COLM) traded up 1.50% during trading on Tuesday, hitting $60.11. 180,303 shares of the stock traded hands. The firm’s 50-day moving average price is $56.70 and its 200-day moving average price is $57.32. The stock has a market cap of $4.19 billion, a PE ratio of 23.97 and a beta of 0.89. Columbia Sportswear has a 12 month low of $43.56 and a 12 month high of $66.00.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.05. The firm had revenue of $388.70 million for the quarter, compared to the consensus estimate of $392.02 million. Columbia Sportswear had a net margin of 7.48% and a return on equity of 12.14%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned ($0.09) EPS. Analysts anticipate that Columbia Sportswear will post $2.67 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC purchased a new position in Columbia Sportswear during the first quarter worth approximately $36,550,000. Atlanta Capital Management Co. L L C raised its stake in shares of Columbia Sportswear by 21.9% in the second quarter. Atlanta Capital Management Co. L L C now owns 3,314,878 shares of the company’s stock worth $190,738,000 after buying an additional 594,627 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Columbia Sportswear by 300.0% in the first quarter. Goldman Sachs Group Inc. now owns 475,516 shares of the company’s stock worth $28,574,000 after buying an additional 356,630 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Columbia Sportswear by 19.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,098,115 shares of the company’s stock worth $63,186,000 after buying an additional 181,853 shares during the last quarter. Finally, Friess Associates LLC bought a new stake in shares of Columbia Sportswear during the first quarter worth $10,018,000. 36.49% of the stock is owned by hedge funds and other institutional investors.
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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