Columbia Sportswear (NASDAQ:COLM) Given Outperform Rating at Wedbush

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Columbia Sportswear (NASDAQ:COLM)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Wednesday, RTT News reports. They presently have a $118.00 target price on the textile maker’s stock. Wedbush’s price objective indicates a potential upside of 13.30% from the stock’s current price. Wedbush also issued estimates for Columbia Sportswear’s Q2 2019 earnings at $0.01 EPS, FY2019 earnings at $4.58 EPS and FY2020 earnings at $5.04 EPS.

A number of other brokerages have also issued reports on COLM. Pivotal Research reiterated a “buy” rating and set a $117.00 price target (up from $112.00) on shares of Columbia Sportswear in a research note on Tuesday, April 23rd. Canaccord Genuity set a $107.00 price target on shares of Columbia Sportswear and gave the stock a “hold” rating in a research note on Friday, April 26th. ValuEngine lowered shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, July 8th. Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Monday, April 29th. Finally, Citigroup initiated coverage on shares of Oxford Industries in a research note on Tuesday, April 16th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $113.15.

Shares of NASDAQ:COLM opened at $104.15 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.41 and a quick ratio of 2.33. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 2.55 and a beta of 0.70. The stock’s 50-day simple moving average is $99.00. Columbia Sportswear has a 1 year low of $80.03 and a 1 year high of $109.74.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.23. The company had revenue of $654.61 million for the quarter, compared to analyst estimates of $646.77 million. Columbia Sportswear had a net margin of 10.43% and a return on equity of 17.89%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, equities analysts forecast that Columbia Sportswear will post 4.55 earnings per share for the current fiscal year.

In related news, EVP Joseph P. Boyle sold 13,013 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $106.00, for a total transaction of $1,379,378.00. Following the sale, the executive vice president now directly owns 2,313,048 shares in the company, valued at $245,183,088. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Murrey R. Albers sold 11,608 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $97.32, for a total transaction of $1,129,690.56. Following the sale, the director now owns 39,350 shares in the company, valued at $3,829,542. The disclosure for this sale can be found here. 56.57% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in COLM. Norges Bank purchased a new stake in shares of Columbia Sportswear during the fourth quarter worth approximately $33,356,000. Handelsbanken Fonder AB boosted its holdings in Columbia Sportswear by 308.6% in the second quarter. Handelsbanken Fonder AB now owns 364,100 shares of the textile maker’s stock valued at $36,468,000 after purchasing an additional 275,000 shares in the last quarter. South Texas Money Management Ltd. acquired a new position in Columbia Sportswear in the second quarter valued at approximately $18,265,000. Marshall Wace North America L.P. boosted its holdings in Columbia Sportswear by 726.8% in the first quarter. Marshall Wace North America L.P. now owns 186,536 shares of the textile maker’s stock valued at $19,433,000 after purchasing an additional 163,975 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Columbia Sportswear by 12.5% in the first quarter. Acadian Asset Management LLC now owns 1,178,817 shares of the textile maker’s stock valued at $122,808,000 after purchasing an additional 130,710 shares in the last quarter. Hedge funds and other institutional investors own 37.69% of the company’s stock.

About Columbia Sportswear

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

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Analyst Recommendations for Columbia Sportswear (NASDAQ:COLM)

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