Columbia Sportswear’s (COLM) Buy Rating Reaffirmed at BTIG Research

BTIG Research reissued their buy rating on shares of Columbia Sportswear (NASDAQ:COLM) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $75.00 price target on the textile maker’s stock.

A number of other equities analysts have also recently commented on COLM. Stifel Nicolaus lowered their target price on Columbia Sportswear from $68.00 to $60.00 and set a “buy” rating for the company in a report on Friday, October 31st. Citigroup reduced their price target on shares of Columbia Sportswear from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 3rd. UBS Group restated a “sell” rating and issued a $39.00 price objective (up previously from $38.00) on shares of Columbia Sportswear in a report on Thursday, January 8th. Zacks Research upgraded shares of Columbia Sportswear from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Wall Street Zen raised Columbia Sportswear from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.00.

Columbia Sportswear Stock Performance

Columbia Sportswear stock opened at $55.28 on Friday. The company’s 50 day simple moving average is $54.97 and its 200-day simple moving average is $54.28. Columbia Sportswear has a 1 year low of $47.47 and a 1 year high of $92.88. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 16.70 and a beta of 0.90.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, October 30th. The textile maker reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.16. The firm had revenue of $943.43 million during the quarter, compared to the consensus estimate of $917.02 million. Columbia Sportswear had a net margin of 5.45% and a return on equity of 12.45%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 EPS. Equities analysts expect that Columbia Sportswear will post 4.1 earnings per share for the current year.

Institutional Investors Weigh In On Columbia Sportswear

Several hedge funds and other institutional investors have recently bought and sold shares of COLM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Columbia Sportswear by 2.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,877 shares of the textile maker’s stock valued at $481,000 after acquiring an additional 221 shares in the last quarter. Huntington National Bank boosted its position in shares of Columbia Sportswear by 33.8% in the 3rd quarter. Huntington National Bank now owns 1,005 shares of the textile maker’s stock valued at $53,000 after purchasing an additional 254 shares during the period. Farther Finance Advisors LLC grew its stake in Columbia Sportswear by 195.4% during the 4th quarter. Farther Finance Advisors LLC now owns 449 shares of the textile maker’s stock worth $25,000 after buying an additional 297 shares during the last quarter. Prudential Financial Inc. lifted its stake in Columbia Sportswear by 11.7% in the second quarter. Prudential Financial Inc. now owns 3,333 shares of the textile maker’s stock valued at $204,000 after buying an additional 350 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Columbia Sportswear by 29.6% in the third quarter. US Bancorp DE now owns 1,621 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 370 shares during the period. 47.76% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Sportswear

Columbia Sportswear Company develops, sources, markets and distributes a wide range of outdoor apparel, footwear and accessories designed for activities such as hiking, skiing, snowboarding and trail running. Its product portfolio includes weatherproof jackets and pants featuring proprietary technologies like Omni-Tech® waterproofing and Omni-Heat® thermal reflective lining, as well as activewear, footwear, hats, gloves and accessories under the Columbia® brand and complementary brands.

Founded in 1938 as the Columbia Hat Company in Portland, Oregon, the company initially focused on headwear before expanding into outerwear in the 1970s with the introduction of the Bugaboo® interchange jacket.