Columbia Sportswear (NASDAQ:COLM) Receives Buy Rating from BTIG Research

Columbia Sportswear (NASDAQ:COLM)‘s stock had its “buy” rating restated by BTIG Research in a note issued to investors on Friday,Benzinga reports. They presently have a $75.00 price objective on the textile maker’s stock. BTIG Research’s target price would indicate a potential upside of 38.56% from the stock’s previous close.

A number of other research firms have also weighed in on COLM. Stifel Nicolaus lowered their price target on shares of Columbia Sportswear from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Columbia Sportswear in a report on Monday, December 29th. Zacks Research upgraded Columbia Sportswear from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Wall Street Zen raised shares of Columbia Sportswear from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Citigroup dropped their price target on shares of Columbia Sportswear from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Columbia Sportswear presently has an average rating of “Hold” and a consensus price target of $56.00.

Columbia Sportswear Stock Up 0.5%

Shares of Columbia Sportswear stock opened at $54.13 on Friday. The firm has a market cap of $2.92 billion, a PE ratio of 16.35 and a beta of 0.90. Columbia Sportswear has a twelve month low of $47.47 and a twelve month high of $92.88. The business has a 50-day moving average price of $54.94 and a 200 day moving average price of $54.32.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data on Thursday, October 30th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.16. The business had revenue of $943.43 million for 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 company’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.56 earnings per share. On average, sell-side analysts expect that Columbia Sportswear will post 4.1 EPS for the current year.

Hedge Funds Weigh In On Columbia Sportswear

A number of institutional investors and hedge funds have recently made changes to their positions in COLM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted 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 worth $481,000 after acquiring an additional 221 shares during the last quarter. Huntington National Bank raised its holdings 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 in the last quarter. Farther Finance Advisors LLC lifted its position in shares of 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 purchasing an additional 297 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Columbia Sportswear by 11.7% during the second quarter. Prudential Financial Inc. now owns 3,333 shares of the textile maker’s stock worth $204,000 after purchasing an additional 350 shares in the last quarter. Finally, US Bancorp DE increased its holdings in 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 buying an additional 370 shares during the last quarter. 47.76% of the stock is owned by institutional investors and hedge funds.

Columbia Sportswear Company Profile

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.