Zacks Investment Research downgraded shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a hold rating in a research note released on Thursday morning.

According to Zacks, “Shares of Columbia Sportswear have outperformed the industry in the past year on the back of a solid surprise history and sturdy performance of the company’s European wholesale and U.S. direct-to-consumer businesses. In fact, the company’s top- and bottom-line results in the third quarter of 2017 were primarily driven by improved sales in all international regions. Incidentally, the company is on track with Project CONNECT initiative to drive revenues, capture efficiencies, improve marketing processes and lower SG&A costs. Further as part of the company’s marketing initiatives, it has developed several shop-in-shops and enhanced the number of brand presentations in key partner store locations. However, the company has been facing challenges in the U.S. region, especially on its wholesale front. Moreover, the company remains prone to headwinds such as volatility in the prices of several raw materials and currency fluctuations.”

A number of other research firms have also weighed in on COLM. Stifel Nicolaus set a $74.00 target price on shares of Columbia Sportswear and gave the stock a hold rating in a report on Friday, December 15th. FBR & Co reiterated a buy rating and set a $68.00 target price on shares of Columbia Sportswear in a report on Friday, October 27th. Citigroup reiterated a buy rating and set a $82.00 target price on shares of Columbia Sportswear in a report on Tuesday, December 19th. Guggenheim reiterated a buy rating and set a $75.00 target price on shares of Columbia Sportswear in a report on Friday, December 15th. Finally, BidaskClub upgraded shares of Columbia Sportswear from a buy rating to a strong-buy rating in a report on Thursday, December 21st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $70.33.

Columbia Sportswear (NASDAQ COLM) traded down $0.02 during midday trading on Thursday, reaching $72.00. 193,600 shares of the company’s stock traded hands, compared to its average volume of 231,275. The stock has a market capitalization of $5,030.00, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.89. Columbia Sportswear has a twelve month low of $51.56 and a twelve month high of $73.59.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, October 26th. The textile maker reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.10. The company had revenue of $747.37 million during the quarter, compared to analyst estimates of $735.67 million. Columbia Sportswear had a net margin of 8.18% and a return on equity of 12.30%. Columbia Sportswear’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 earnings per share. equities research analysts forecast that Columbia Sportswear will post 2.7 earnings per share for the current year.

In other Columbia Sportswear news, Director Malia H. Wasson sold 900 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $61.68, for a total value of $55,512.00. Following the completion of the sale, the director now directly owns 1,089 shares in the company, valued at $67,169.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter Klenz sold 11,608 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $66.05, for a total transaction of $766,708.40. Following the completion of the sale, the director now owns 21,619 shares of the company’s stock, valued at $1,427,934.95. The disclosure for this sale can be found here. Company insiders own 58.86% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. increased its stake in shares of Columbia Sportswear by 10.0% during the second quarter. Ameritas Investment Partners Inc. now owns 2,563 shares of the textile maker’s stock valued at $149,000 after purchasing an additional 234 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Columbia Sportswear by 11.2% during the second quarter. Advisor Group Inc. now owns 3,364 shares of the textile maker’s stock valued at $195,000 after purchasing an additional 339 shares in the last quarter. Invictus RG bought a new position in shares of Columbia Sportswear during the third quarter valued at approximately $207,000. Amalgamated Bank bought a new position in shares of Columbia Sportswear during the second quarter valued at approximately $214,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Columbia Sportswear during the second quarter valued at approximately $235,000. Institutional investors and hedge funds own 38.68% of the company’s stock.

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About Columbia Sportswear

Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.

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