Columbia Sportswear (NASDAQ:COLM) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Columbia Sportswear from “buy” to “strong-buy.” Analyst opinion overall remains mixed, with MarketBeat reporting an average “hold” rating and a $66.40 average price target.
• The company’s latest quarter beat analyst expectations: EPS was $1.66 versus a $1.28 consensus, while revenue reached $962.58 million versus expectations of $944.91 million.
• Shares opened at $70.43, near the reported 52-week high of $72.63. Company insiders sold 26,361 shares worth about $1.84 million over the last quarter.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Citigroup reiterated a "neutral" rating and set a $68.00 price target (up from $67.00) on shares of Columbia Sportswear in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Columbia Sportswear from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, August 17th. Zacks Research downgraded shares of Columbia Sportswear from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 20th. BTIG Research boosted their target price on Columbia Sportswear from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, October 30th. Finally, Robert W. Baird set a $65.00 price target on shares of Columbia Sportswear in a research note on Friday, July 31st. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $66.40.

Columbia Sportswear Price Performance

Shares of COLM opened at $70.43 on Friday. The company's fifty day moving average price is $59.59 and its 200-day moving average price is $60.15. Columbia Sportswear has a 1-year low of $49.56 and a 1-year high of $72.63. The firm has a market capitalization of $3.60 billion, a PE ratio of 19.59 and a beta of 0.88.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last issued its earnings results on Thursday, October 29th. The textile maker reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.38. The company had revenue of $962.58 million during the quarter, compared to analysts' expectations of $944.91 million. Columbia Sportswear had a net margin of 6.97% and a return on equity of 11.71%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.41 earnings per share. As a group, research analysts anticipate that Columbia Sportswear will post 3.91 EPS for the current fiscal year.

Insider Buying and Selling at Columbia Sportswear

In other Columbia Sportswear news, insider Joseph P. Boyle sold 19,129 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $70.47, for a total value of $1,348,020.63. Following the completion of the sale, the insider directly owned 2,776,714 shares in the company, valued at $195,675,035.58. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Kulok sold 6,857 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $68.47, for a total value of $469,498.79. Following the completion of the transaction, the executive vice president owned 8,180 shares in the company, valued at $560,084.60. This represents a 45.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,361 shares of company stock valued at $1,844,073. 51.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Columbia Sportswear

Institutional investors have recently bought and sold shares of the business. Diversified Trust Co raised its stake in Columbia Sportswear by 126.3% during the third quarter. Diversified Trust Co now owns 16,870 shares of the textile maker's stock worth $969,000 after acquiring an additional 9,415 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Columbia Sportswear by 16.5% during the third quarter. Pictet Asset Management Holding SA now owns 4,324 shares of the textile maker's stock valued at $248,000 after buying an additional 614 shares during the period. CenterBook Partners LP bought a new stake in shares of Columbia Sportswear during the third quarter valued at approximately $822,000. State of Wyoming boosted its holdings in shares of Columbia Sportswear by 357.0% during the 3rd quarter. State of Wyoming now owns 10,708 shares of the textile maker's stock valued at $615,000 after acquiring an additional 8,365 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Columbia Sportswear by 63.4% during the third quarter. Signaturefd LLC now owns 1,716 shares of the textile maker's stock valued at $99,000 after purchasing an additional 666 shares in the last quarter. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Sportswear Company Profile

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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