Columbia Sportswear Company (NASDAQ:COLM – Get Free Report) hit a new 52-week high on Monday after BTIG Research raised their price target on the stock from $80.00 to $83.00. BTIG Research currently has a buy rating on the stock. Columbia Sportswear traded as high as $69.38 and last traded at $69.0120, with a volume of 76,818 shares changing hands. The stock had previously closed at $67.54.
A number of other research analysts have also recently issued reports on the company. Weiss Ratings upgraded Columbia Sportswear from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Stifel Nicolaus set a $67.00 target price on Columbia Sportswear and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Research cut Columbia Sportswear from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Citigroup restated a “neutral” rating and set a $68.00 price target (up from $67.00) on shares of Columbia Sportswear in a report on Wednesday, July 22nd. Finally, Robert W. Baird set a $65.00 price target on shares of Columbia Sportswear in a research note on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $66.40.
View Our Latest Report on Columbia Sportswear
Institutional Trading of Columbia Sportswear
Several institutional investors and hedge funds have recently modified their holdings of COLM. BlackRock Inc. purchased a new position in shares of Columbia Sportswear in the second quarter worth $152,164,000. Dimensional Fund Advisors LP increased its holdings in Columbia Sportswear by 15.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,222,770 shares of the textile maker’s stock valued at $121,824,000 after acquiring an additional 301,277 shares during the last quarter. Tassel Capital Management Inc. bought a new stake in Columbia Sportswear in the 2nd quarter valued at $10,085,000. Quantinno Capital Management LP lifted its stake in Columbia Sportswear by 7.6% in the 1st quarter. Quantinno Capital Management LP now owns 292,953 shares of the textile maker’s stock worth $16,057,000 after purchasing an additional 20,797 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Columbia Sportswear in the 2nd quarter worth $16,691,000. 47.76% of the stock is currently owned by institutional investors.
Columbia Sportswear Trading Up 2.6%
The firm’s 50 day simple moving average is $58.44 and its 200 day simple moving average is $59.75. The firm has a market cap of $3.54 billion, a PE ratio of 15.16 and a beta of 0.88.
Columbia Sportswear (NASDAQ:COLM – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The textile maker reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.38. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. The business had revenue of $962.58 million for the quarter, compared to analysts’ expectations of $944.91 million. During the same period in the prior year, the firm earned $1.41 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Columbia Sportswear Company will post 4.78 earnings per share for the current fiscal year.
Columbia Sportswear Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 19th. Columbia Sportswear’s dividend payout ratio (DPR) is presently 26.32%.
About Columbia Sportswear
Columbia Sportswear Company is an outdoor and active lifestyle apparel, footwear, accessories and equipment company headquartered in Portland, Oregon. Founded in 1938 as the Columbia Hat Company, the business has grown into a global outdoor brand focused on products designed for activities such as hiking, skiing, fishing, camping and everyday outdoor use.
The company markets products under the Columbia, Sorel, Mountain Hardwear and prAna brands. Its offerings include jackets, shirts, pants, base layers, footwear, hats, gloves, backpacks and other outdoor accessories.
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