UBS Group Lowers Columbia Sportswear (NASDAQ:COLM) Price Target to $40.00

Key Points

• UBS Group has lowered its price target for Columbia Sportswear from $45.00 to $40.00, reflecting a potential downside of 18.35% from previous close, while also maintaining a "sell" rating.
• Other analysts have also adjusted their price targets for Columbia Sportswear, with targets now ranging from $40.00 to $68.00, indicating mixed sentiments towards the stock.
• In trading, shares of Columbia Sportswear decreased by 13.4%, reaching $48.99, following these negative adjustments in analysts' ratings and price targets.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) had its price target decreased by stock analysts at UBS Group from $45.00 to $40.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "sell" rating on the textile maker's stock. UBS Group's price objective suggests a potential downside of 18.35% from the stock's previous close.

COLM has been the topic of a number of other reports. Stifel Nicolaus reduced their target price on shares of Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday. Barclays lowered their target price on shares of Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating for the company in a research note on Friday. Citigroup reissued a "neutral" rating and set a $68.00 price target (down previously from $80.00) on shares of Columbia Sportswear in a report on Monday, April 7th. Finally, Needham & Company LLC initiated coverage on shares of Columbia Sportswear in a report on Friday, May 30th. They set a "hold" rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Columbia Sportswear currently has an average rating of "Hold" and an average price target of $62.20.

Columbia Sportswear Trading Down 13.4%

Shares of NASDAQ COLM traded down $7.58 during midday trading on Friday, reaching $48.99. 1,219,350 shares of the stock were exchanged, compared to its average volume of 768,790. The company has a market capitalization of $2.70 billion, a P/E ratio of 12.47, a P/E/G ratio of 3.96 and a beta of 0.97. Columbia Sportswear has a 52-week low of $48.11 and a 52-week high of $92.88. The stock has a 50 day moving average price of $61.81 and a 200-day moving average price of $71.29.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last released its earnings results 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. Columbia Sportswear had a net margin of 6.61% and a return on equity of 12.57%. The business had revenue of $605.25 million for the quarter, compared to analysts' expectations of $587.97 million. During the same period last year, the company earned ($0.20) earnings per share. The company's quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts forecast that Columbia Sportswear will post 4.1 earnings per share for the current year.

Insider Transactions at Columbia Sportswear

In other Columbia Sportswear news, Director Stephen E. Babson sold 2,776 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $65.94, for a total transaction 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 represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 48.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Columbia Sportswear

A number of large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its position in shares of Columbia Sportswear by 3.7% in the fourth quarter. Deutsche Bank AG now owns 3,911 shares of the textile maker's stock valued at $328,000 after acquiring an additional 141 shares during the period. Novem Group grew its stake in shares of Columbia Sportswear by 7.6% in the second quarter. Novem Group now owns 3,353 shares of the textile maker's stock worth $205,000 after acquiring an additional 237 shares during the last quarter. Covestor Ltd grew its stake in shares of Columbia Sportswear by 13.0% in the fourth quarter. Covestor Ltd now owns 2,101 shares of the textile maker's stock worth $177,000 after acquiring an additional 241 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Columbia Sportswear by 4.8% in the first quarter. Federated Hermes Inc. now owns 5,241 shares of the textile maker's stock worth $397,000 after acquiring an additional 241 shares during the last quarter. Finally, Procyon Advisors LLC grew its stake in shares of Columbia Sportswear by 8.3% in the first quarter. Procyon Advisors LLC now owns 3,605 shares of the textile maker's stock worth $273,000 after acquiring an additional 276 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.

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