Columbia Sportswear (NASDAQ:COLM) Shares Down 5.2% After Analyst Downgrade

Columbia Sportswear (NASDAQ:COLM - Get Free Report)'s stock price traded down 5.2% during mid-day trading on Friday after Barclays lowered their price target on the stock from $64.00 to $62.00. Barclays currently has an equal weight rating on the stock. Columbia Sportswear traded as low as $58.44 and last traded at $59.03. 182,774 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 553,687 shares. The stock had previously closed at $62.27.

Other analysts also recently issued research reports about the company. UBS Group lifted their target price on Columbia Sportswear from $42.00 to $51.00 and gave the company a "sell" rating in a research note on Monday, April 14th. Citigroup reiterated a "neutral" rating and issued a $68.00 target price (down from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. Stifel Nicolaus decreased their price objective on shares of 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, StockNews.com cut Columbia Sportswear from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $70.00.

Insider Activity at Columbia Sportswear

In other news, EVP Richelle T. Luther sold 4,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $92.36, for a total value of $369,440.00. Following the transaction, the executive vice president now owns 14,283 shares of the company's stock, valued at $1,319,177.88. This represents a 21.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald E. Nelson sold 6,395 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.74, for a total value of $522,727.30. Following the transaction, the director now owns 17,048 shares in the company, valued at approximately $1,393,503.52. This trade represents a 27.28 % decrease in their position. The disclosure for this sale can be found here. 44.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Columbia Sportswear

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legato Capital Management LLC grew its position in shares of Columbia Sportswear by 63.6% in the 1st quarter. Legato Capital Management LLC now owns 15,712 shares of the textile maker's stock valued at $1,189,000 after acquiring an additional 6,109 shares during the period. Oak Thistle LLC bought a new position in shares of Columbia Sportswear in the first quarter valued at about $347,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Columbia Sportswear in the 1st quarter valued at about $38,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Columbia Sportswear during the first quarter worth approximately $952,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Columbia Sportswear in the first quarter valued at approximately $2,800,000. Institutional investors and hedge funds own 47.76% of the company's stock.

Columbia Sportswear Stock Performance

The company has a fifty day moving average of $71.79 and a two-hundred day moving average of $80.35. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.54 and a beta of 1.00.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last announced its earnings results on Thursday, May 1st. The textile maker reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $778.45 million for the quarter, compared to analysts' expectations of $763.50 million. Columbia Sportswear had a net margin of 6.63% and a return on equity of 12.23%. The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. Equities analysts forecast that Columbia Sportswear will post 4.1 EPS for the current year.

Columbia Sportswear Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.86%. Columbia Sportswear's payout ratio 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.