Stifel Nicolaus Lowers Columbia Sportswear (NASDAQ:COLM) Price Target to $68.00

Key Points

• Stifel Nicolaus has lowered its price target for Columbia Sportswear (NASDAQ:COLM) from $75.00 to $68.00, maintaining a "buy" rating which suggests a 39.66% potential upside from the company's previous close.
• Columbia Sportswear's stock has experienced a decline, trading down $7.88 on Friday, reaching a price of $48.69, with a market capitalization of $2.69 billion.
• Despite the target price drop, the company reported a revenue increase of 6.1% compared to the previous year, with earnings per share exceeding analysts' expectations.

Columbia Sportswear (NASDAQ:COLM - Free Report) had its target price trimmed by Stifel Nicolaus from $75.00 to $68.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the textile maker's stock.

Several other research firms also recently weighed in on COLM. Citigroup restated a "neutral" rating and issued a $68.00 price objective (down from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. UBS Group upped their price target on shares of Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a research report on Monday, April 14th. Needham & Company LLC began coverage on shares of Columbia Sportswear in a research note on Friday, May 30th. They issued a "hold" rating for the company. Finally, Barclays dropped their target price on Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $60.80.

Columbia Sportswear Price Performance

COLM stock traded up $1.21 during mid-day trading on Friday, reaching $52.29. The company had a trading volume of 794,062 shares, compared to its average volume of 781,345. The company has a market capitalization of $2.88 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 3.33 and a beta of 1.00. The firm has a 50 day moving average of $61.10 and a 200 day moving average of $70.47. Columbia Sportswear has a 12 month low of $48.10 and a 12 month high of $92.88.

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

Columbia Sportswear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.3%. Columbia Sportswear's dividend payout ratio is presently 30.61%.

Insider Activity

In other news, Director Stephen E. Babson sold 2,776 shares of the firm'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 sale, the director owned 128,309 shares of the company's stock, valued at $8,460,695.46. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 48.30% of the company's stock.

Institutional Investors Weigh In On Columbia Sportswear

Several institutional investors have recently added to or reduced their stakes in the business. Boston Trust Walden Corp raised its position in shares of Columbia Sportswear by 0.5% in the 2nd quarter. Boston Trust Walden Corp now owns 1,198,524 shares of the textile maker's stock valued at $73,206,000 after purchasing an additional 5,491 shares during the last quarter. American Century Companies Inc. increased its stake in Columbia Sportswear by 12.7% during the 1st quarter. American Century Companies Inc. now owns 997,013 shares of the textile maker's stock valued at $75,464,000 after purchasing an additional 112,282 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Columbia Sportswear by 25.3% in the fourth quarter. Invesco Ltd. now owns 530,600 shares of the textile maker's stock worth $44,533,000 after buying an additional 107,157 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Columbia Sportswear during the first quarter worth $39,222,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Columbia Sportswear by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 390,923 shares of the textile maker's stock worth $23,878,000 after buying an additional 3,331 shares during the period. Institutional investors and hedge funds 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.