Columbia Sportswear (NASDAQ:COLM) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Columbia Sportswear shares hit a new 52-week high after BTIG Research raised its price target from $80 to $83 and maintained a buy rating. The stock traded as high as $69.38.
• Analyst sentiment remains mixed: two analysts rate the stock Buy, three Hold and one Sell, resulting in an overall Hold rating and an average price target of $66.40.
• Columbia Sportswear beat quarterly expectations, reporting $1.66 in earnings per share versus the $1.28 consensus estimate and revenue of $962.58 million. The company also declared a quarterly dividend of $0.30 per share, representing a 1.7% yield.

Shares of Columbia Sportswear Company (NASDAQ:COLM - Get Free Report) reached 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.

Several other research analysts have also recently weighed in on COLM. Zacks Research cut shares of Columbia Sportswear from a "strong-buy" rating to a "hold" rating in a report on Monday, July 20th. Weiss Ratings raised shares of 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 price objective on shares of Columbia Sportswear and gave the company a "buy" rating in a research report on Friday, July 31st. UBS Group reaffirmed a "sell" rating and set a $49.00 price objective (up from $47.00) on shares of Columbia Sportswear in a report on Friday. Finally, Wall Street Zen downgraded Columbia Sportswear from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $66.40.

Institutional Trading of Columbia Sportswear

A number of institutional investors have recently modified their holdings of COLM. Northwestern Mutual Wealth Management Co. purchased a new stake in Columbia Sportswear in the 2nd quarter worth approximately $32,000. Trust Co. of Vermont bought a new stake in shares of Columbia Sportswear during the 2nd quarter valued at about $39,000. Parallel Advisors LLC boosted its stake in shares of Columbia Sportswear by 43.6% during the 1st quarter. Parallel Advisors LLC now owns 817 shares of the textile maker's stock valued at $45,000 after purchasing an additional 248 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Columbia Sportswear by 72.4% during the first quarter. PNC Financial Services Group Inc. now owns 888 shares of the textile maker's stock valued at $49,000 after buying an additional 373 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Columbia Sportswear by 330.8% during the second quarter. Versant Capital Management Inc now owns 840 shares of the textile maker's stock valued at $52,000 after buying an additional 645 shares during the period. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Sportswear Stock Performance

The firm has a market capitalization of $3.54 billion, a P/E ratio of 15.16 and a beta of 0.88. The company has a 50-day simple moving average of $58.44 and a two-hundred day simple moving average of $59.75.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The textile maker reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.38. The company had revenue of $962.58 million for the quarter, compared to analyst estimates of $944.91 million. Columbia Sportswear had a return on equity of 11.71% and a net margin of 6.97%. The firm's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, research analysts forecast that Columbia Sportswear Company will post 4.78 earnings per share for the current fiscal year.

Columbia Sportswear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 19th. Columbia Sportswear's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.