Citigroup Has Lowered Expectations for Columbia Sportswear (NASDAQ:COLM) Stock Price

Key Points

• CitiGroup has reduced its price target for Columbia Sportswear from $64.00 to $61.00, maintaining a "neutral" rating, which suggests a potential upside of 23.73% from the stock's previous close.
• Columbia Sportswear shares experienced a significant decline, dropping 12.9% to $49.30 amid various analysts rating the stock with a consensus rating of "Hold" and an average price target of $60.80.
• The company reported earnings of ($0.19) EPS for the last quarter, exceeding estimates and showcasing revenue growth of 6.1% year-over-year, totaling $605.25 million.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) had its target price dropped by Citigroup from $64.00 to $61.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the textile maker's stock. Citigroup's price objective suggests a potential upside of 16.16% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the company. Stifel Nicolaus cut their price target on Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating for the company in a research note on Friday. Barclays dropped their price target on Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating for the company in a research note on Friday. Needham & Company LLC began coverage on Columbia Sportswear in a research report on Friday, May 30th. They set a "hold" rating for the company. Finally, UBS Group lowered their target price on Columbia Sportswear from $45.00 to $40.00 and set a "sell" rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Columbia Sportswear currently has a consensus rating of "Hold" and an average price target of $60.80.

Columbia Sportswear Stock Up 2.8%

Shares of Columbia Sportswear stock traded up $1.44 on Friday, hitting $52.52. The stock had a trading volume of 148,769 shares, compared to its average volume of 776,844. Columbia Sportswear has a twelve month low of $48.10 and a twelve month high of $92.88. The business's 50 day moving average is $61.10 and its two-hundred day moving average is $70.47. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 3.33 and a beta of 1.00.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its earnings results on Thursday, July 31st. The textile maker reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.09. Columbia Sportswear had a return on equity of 12.97% and a net margin of 6.59%. The company had revenue of $605.25 million for the quarter, compared to the consensus estimate of $587.97 million. During the same quarter in the prior year, the business earned ($0.20) earnings per share. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Columbia Sportswear will post 4.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen E. Babson sold 2,776 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $65.94, for a total value of $183,049.44. Following the transaction, the director owned 128,309 shares of the company's stock, valued at $8,460,695.46. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 48.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Columbia Sportswear during the first quarter valued at about $38,000. Jones Financial Companies Lllp grew its stake in shares of Columbia Sportswear by 208.3% in the first quarter. Jones Financial Companies Lllp now owns 555 shares of the textile maker's stock worth $42,000 after purchasing an additional 375 shares during the last quarter. Quarry LP bought a new stake in shares of Columbia Sportswear in the first quarter worth about $44,000. Whipplewood Advisors LLC grew its stake in shares of Columbia Sportswear by 12,400.0% in the first quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker's stock worth $47,000 after purchasing an additional 620 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Columbia Sportswear by 1,943.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 899 shares of the textile maker's stock worth $68,000 after purchasing an additional 855 shares during the last quarter. Institutional investors own 47.76% of the company's stock.

About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.