Columbia Sportswear (NASDAQ:COLM) Shares Gap Down on Analyst Downgrade

Key Points

• Columbia Sportswear's shares gapped down to $49.96 after Barclays lowered its price target from $62.00 to $51.00, where it last traded at $49.95 with significant volume.
• The company's quarterly earnings exceeded expectations, reporting a loss of ($0.19) EPS against a consensus estimate of ($0.28) and a revenue increase of 6.1% year-over-year.
• A dividend of $0.30 per share will be paid to stockholders on September 4th, reflecting a 2.4% yield and a payout ratio of 30.69%.

Columbia Sportswear Company (NASDAQ:COLM - Get Free Report) gapped down before the market opened on Friday after Barclays lowered their price target on the stock from $62.00 to $51.00. The stock had previously closed at $56.57, but opened at $49.96. Barclays currently has an equal weight rating on the stock. Columbia Sportswear shares last traded at $49.95, with a volume of 256,161 shares trading hands.

COLM has been the subject of a number of other research reports. Needham & Company LLC initiated coverage on Columbia Sportswear in a report on Friday, May 30th. They issued a "hold" rating for the company. UBS Group lifted their target price on Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a report on Monday, April 14th. Stifel Nicolaus decreased their price target on Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Citigroup reissued a "neutral" rating and set a $68.00 price target (down from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.80.

Insider Activity at Columbia Sportswear

In other news, Director Stephen E. Babson sold 2,776 shares of the business's 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 completion of the transaction, the director directly owned 128,309 shares of the company's stock, valued at approximately $8,460,695.46. The trade was a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 48.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COLM. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Columbia Sportswear in the 1st quarter worth $38,000. Jones Financial Companies Lllp grew its stake in Columbia Sportswear by 208.3% during the 1st quarter. Jones Financial Companies Lllp now owns 555 shares of the textile maker's stock worth $42,000 after buying an additional 375 shares during the last quarter. Quarry LP purchased a new position in Columbia Sportswear during the 1st quarter worth $44,000. Whipplewood Advisors LLC grew its stake in Columbia Sportswear by 12,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker's stock valued at $47,000 after purchasing an additional 620 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Columbia Sportswear by 1,943.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 899 shares of the textile maker's stock valued at $68,000 after purchasing an additional 855 shares during the last quarter. 47.76% of the stock is owned by institutional investors.

Columbia Sportswear Stock Performance

The company has a 50 day simple moving average of $61.81 and a two-hundred day simple moving average of $71.29. The firm has a market cap of $2.74 billion, a PE ratio of 12.70, a P/E/G ratio of 3.96 and a beta of 0.97.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.09. The business had revenue of $605.25 million during the quarter, compared to analysts' expectations of $587.97 million. Columbia Sportswear had a return on equity of 12.57% and a net margin of 6.61%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) EPS. As a group, research analysts predict that Columbia Sportswear Company will post 4.1 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. Columbia Sportswear's dividend payout ratio (DPR) is presently 30.69%.

Columbia Sportswear Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.