Columbia Sportswear (NASDAQ:COLM) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,036,100 shares, an increase of 24.2% from the July 31st total of 834,100 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average trading volume of 275,600 shares, the days-to-cover ratio is presently 3.8 days.
Shares of COLM stock traded down $0.65 on Thursday, hitting $100.48. The company had a trading volume of 2,764 shares, compared to its average volume of 332,908. The stock’s 50-day moving average is $97.76 and its two-hundred day moving average is $100.00. Columbia Sportswear has a twelve month low of $80.03 and a twelve month high of $109.74. The firm has a market cap of $6.71 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.87 and a beta of 0.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.57 and a current ratio of 2.88.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.22. The company had revenue of $526.21 million during the quarter, compared to analysts’ expectations of $507.16 million. Columbia Sportswear had a return on equity of 18.14% and a net margin of 10.73%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. Equities research analysts predict that Columbia Sportswear will post 4.72 EPS for the current year.
Several analysts recently weighed in on COLM shares. B. Riley set a $109.00 price objective on Columbia Sportswear and gave the stock a “hold” rating in a research report on Tuesday, August 20th. ValuEngine downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Bank of America upgraded Columbia Sportswear from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $112.00 to $130.00 in a research report on Tuesday, July 23rd. Stifel Nicolaus set a $129.00 price objective on Columbia Sportswear and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Wedbush upped their target price on Columbia Sportswear from $118.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $118.00.
In related news, EVP Joseph P. Boyle sold 13,930 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $107.00, for a total transaction of $1,490,510.00. Following the completion of the sale, the executive vice president now directly owns 2,314,856 shares in the company, valued at approximately $247,689,592. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Andy D. Bryant sold 20,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $107.64, for a total value of $2,152,800.00. Following the sale, the director now owns 44,990 shares of the company’s stock, valued at $4,842,723.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,938 shares of company stock valued at $8,461,381. Corporate insiders own 56.57% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Columbia Sportswear by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,077,552 shares of the textile maker’s stock worth $308,249,000 after purchasing an additional 50,087 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its position in shares of Columbia Sportswear by 14.2% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 2,971,514 shares of the textile maker’s stock worth $297,627,000 after purchasing an additional 369,222 shares in the last quarter. BlackRock Inc. boosted its position in shares of Columbia Sportswear by 6.9% in the 2nd quarter. BlackRock Inc. now owns 1,408,031 shares of the textile maker’s stock worth $141,029,000 after purchasing an additional 90,583 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Columbia Sportswear by 12.5% in the 1st quarter. Acadian Asset Management LLC now owns 1,178,817 shares of the textile maker’s stock worth $122,808,000 after purchasing an additional 130,710 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Columbia Sportswear by 221.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 430,356 shares of the textile maker’s stock worth $43,104,000 after purchasing an additional 296,619 shares in the last quarter. Hedge funds and other institutional investors own 37.68% 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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