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 report issued on Wednesday.
According to Zacks, “Columbia Sportswear reported mixed third-quarter 2016 numbers, wherein earnings beat the Zacks Consensus Estimate while revenues missed the same. However, earnings declined 7.8% from the prior-year quarter, as it was impacted by the timing shift shipments of U.S. wholesale advance orders from the third quarter into the final quarter of 2016 and bankruptcies of certain wholesale customers. Revenues and gross profits also dropped 3% each. Nevertheless, we are encouraged with the company’s strategic acquisitions and the success of its flagship brands. 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 analysts have also commented on the company. Wedbush began coverage on Columbia Sportswear in a report on Tuesday, November 1st. They set an “outperform” rating and a $67.00 price objective for the company. B. Riley reissued a “neutral” rating and set a $63.00 price objective on shares of Columbia Sportswear in a report on Tuesday, November 1st. Brean Capital reissued a “hold” rating on shares of Columbia Sportswear in a report on Monday, October 31st. FBR & Co reissued a “buy” rating and set a $68.00 price objective on shares of Columbia Sportswear in a report on Friday, October 28th. Finally, Canaccord Genuity reissued a “buy” rating and set a $70.00 price objective on shares of Columbia Sportswear in a report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. Columbia Sportswear currently has a consensus rating of “Hold” and a consensus price target of $65.13.
Columbia Sportswear (NASDAQ:COLM) opened at 59.68 on Wednesday. Columbia Sportswear has a 52 week low of $43.56 and a 52 week high of $62.95. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 24.74 and a beta of 0.79. The stock’s 50 day moving average price is $58.20 and its 200-day moving average price is $57.00.
Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. The firm earned $745.71 million during the quarter, compared to analyst estimates of $770.47 million. Columbia Sportswear had a return on equity of 11.42% and a net margin of 7.23%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.28 EPS. On average, equities research analysts forecast that Columbia Sportswear will post $2.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.21%. This is an increase from Columbia Sportswear’s previous quarterly dividend of $0.17. Columbia Sportswear’s dividend payout ratio is currently 29.88%.
In other Columbia Sportswear news, Director Sarah Bany sold 5,290 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $59.37, for a total transaction of $314,067.30. Following the sale, the director now owns 1,579,136 shares in the company, valued at $93,753,304.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 62.12% of the company’s stock.
Large investors have recently bought and sold shares of the company. HL Financial Services LLC bought a new stake in Columbia Sportswear during the second quarter valued at about $245,000. Bank of Montreal Can purchased a new position in Columbia Sportswear during the second quarter valued at $6,368,000. Fox Run Management L.L.C. purchased a new position in Columbia Sportswear during the second quarter valued at $363,000. Eqis Capital Management Inc. boosted its position in 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 last quarter. Finally, Robecosam AG purchased a new position in Columbia Sportswear during the first quarter valued at $1,552,000. Hedge funds and other institutional investors own 37.51% of the company’s stock.
Columbia Sportswear Company Profile
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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