Columbia Sportswear (NASDAQ:COLM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, reports. The firm currently has a $126.00 price objective on the textile maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 16.03% from the company’s current price.

According to Zacks, “Columbia Sportswear has outpaced the industry in the past six months. The company has been benefiting from its strong direct-to-consumer e-commerce business, as part of which its Experience First initiative is noteworthy. These upsides aided first-quarter 2021 results, wherein the top and bottom lines grew year over year and beat the Zacks Consensus Estimate. Apart from DTC e-commerce growth, improved brick & mortar traffic aided sales. Markedly, sales increased across all categories, regions and channels. Moreover, the company saw an enhanced gross margin. Impressively, management raised its 2021 view, which takes into account the sequential revival in brick-and-mortar retail traffic and sales. However, the company remains mindful of supply-chain and logistic hurdles due to the pandemic. Also, demand creation investments are expected to be high.”

Several other brokerages also recently issued reports on COLM. Cowen lifted their target price on Columbia Sportswear from $116.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 9th. Bank of America raised shares of Columbia Sportswear from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $108.00 to $128.00 in a research note on Monday, March 29th. Robert W. Baird increased their target price on Columbia Sportswear from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday. Pivotal Research upped their price target on Columbia Sportswear from $110.00 to $116.00 in a research note on Friday. Finally, TheStreet raised Columbia Sportswear from a “c+” rating to a “b-” rating in a report on Thursday, February 4th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Columbia Sportswear presently has an average rating of “Buy” and a consensus target price of $115.75.

NASDAQ:COLM traded down $1.15 during trading hours on Tuesday, reaching $108.59. 3,167 shares of the company’s stock were exchanged, compared to its average volume of 389,048. The business’s 50-day simple moving average is $108.16 and its two-hundred day simple moving average is $95.42. The company has a market capitalization of $7.22 billion, a P/E ratio of 58.93, a price-to-earnings-growth ratio of 8.42 and a beta of 0.72. Columbia Sportswear has a 12 month low of $57.16 and a 12 month high of $114.98.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, April 29th. The textile maker reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.51. Columbia Sportswear had a net margin of 4.97% and a return on equity of 7.30%. On average, sell-side analysts forecast that Columbia Sportswear will post 1.39 EPS for the current year.

Columbia Sportswear declared that its Board of Directors has authorized a share repurchase program on Thursday, February 4th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the textile maker to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

In related news, EVP Joseph P. Boyle sold 1,053 shares of the stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $112.79, for a total value of $118,767.87. Following the completion of the sale, the executive vice president now directly owns 2,476,369 shares of the company’s stock, valued at approximately $279,309,659.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Sarah Bany sold 74,037 shares of Columbia Sportswear stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $104.04, for a total value of $7,702,809.48. Following the completion of the transaction, the insider now directly owns 1,154,136 shares in the company, valued at $120,076,309.44. The disclosure for this sale can be found here. Insiders have sold 303,719 shares of company stock valued at $31,086,760 over the last 90 days. Insiders own 41.15% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of COLM. Heritage Wealth Advisors acquired a new position in Columbia Sportswear during the fourth quarter worth $26,000. Twin Tree Management LP acquired a new stake in shares of Columbia Sportswear in the 4th quarter valued at about $35,000. Whittier Trust Co. grew its position in Columbia Sportswear by 25.7% in the 1st quarter. Whittier Trust Co. now owns 591 shares of the textile maker’s stock worth $62,000 after purchasing an additional 121 shares during the last quarter. Grant Street Asset Management Inc. acquired a new stake in Columbia Sportswear during the fourth quarter valued at approximately $89,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Columbia Sportswear during the 4th quarter worth $90,000. 40.64% of the stock is owned by institutional investors.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.

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