Columbia Sportswear Co. (NASDAQ:COLM) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 741,918 shares, an increase of 32.3% from the August 31st total of 560,774 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 285,198 shares, the short-interest ratio is presently 2.6 days.
Several equities research analysts have recently weighed in on COLM shares. Canaccord Genuity upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and upped their price objective for the company from $59.00 to $72.00 in a research note on Tuesday, September 20th. Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, July 4th. DA Davidson restated a “buy” rating and set a $72.00 price target on shares of Columbia Sportswear in a research report on Monday, July 18th. Citigroup Inc. decreased their price target on Columbia Sportswear from $69.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, Guggenheim began coverage on Columbia Sportswear in a research report on Friday, September 30th. They set a “buy” rating and a $71.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $62.75.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Columbia Sportswear by 0.3% in the first quarter. State Street Corp now owns 472,600 shares of the company’s stock worth $28,391,000 after buying an additional 1,520 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Columbia Sportswear during the first quarter valued at approximately $36,550,000. Goldman Sachs Group Inc. increased its position 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 valued at $28,574,000 after buying an additional 356,630 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Columbia Sportswear during the first quarter valued at approximately $408,000. Finally, UBS Group AG increased its position in shares of Columbia Sportswear by 29.3% in the first quarter. UBS Group AG now owns 30,242 shares of the company’s stock valued at $1,817,000 after buying an additional 6,855 shares in the last quarter. Institutional investors own 36.55% of the company’s stock.
Columbia Sportswear (NASDAQ:COLM) opened at 57.01 on Wednesday. Columbia Sportswear has a 1-year low of $43.56 and a 1-year high of $66.00. The stock has a 50 day moving average price of $56.20 and a 200-day moving average price of $57.40. The firm has a market cap of $3.98 billion, a P/E ratio of 22.73 and a beta of 0.89.
Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. Columbia Sportswear had a net margin of 7.48% and a return on equity of 12.14%. The company earned $388.70 million during the quarter, compared to the consensus estimate of $392.02 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Columbia Sportswear will post $2.67 EPS for the current year.
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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