Columbia Sportswear (NASDAQ:COLM) Price Target Cut to $40.00 by Analysts at UBS Group

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 - Free Report) had its target price trimmed by UBS Group from $45.00 to $40.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a sell rating on the textile maker's stock.

A number of other brokerages have also commented on COLM. Barclays dropped their price target on Columbia Sportswear from $62.00 to $51.00 and set an "equal weight" rating for the company in a research note on Friday. Stifel Nicolaus dropped their price target on Columbia Sportswear from $75.00 to $68.00 and set a "buy" rating for the company in a research note on Friday. 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. Finally, Needham & Company LLC started coverage on Columbia Sportswear in a research note on Friday, May 30th. They set a "hold" rating for the company. One equities research 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. According to MarketBeat.com, Columbia Sportswear has a consensus rating of "Hold" and a consensus target price of $60.80.

Columbia Sportswear Price Performance

Shares of NASDAQ COLM traded up $1.32 during mid-day trading on Friday, reaching $52.40. The company's stock had a trading volume of 139,533 shares, compared to its average volume of 776,741. The firm has a market capitalization of $2.89 billion, a PE ratio of 13.36, a P/E/G ratio of 3.33 and a beta of 1.00. The stock has a fifty day moving average of $61.10 and a two-hundred day moving average of $70.47. Columbia Sportswear has a 52 week low of $48.10 and a 52 week high of $92.88.

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

Columbia Sportswear Dividend Announcement

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

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 sale, the director directly owned 128,309 shares in the company, 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 SEC, which is available at this link. 48.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Columbia Sportswear

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Columbia Sportswear in the first quarter worth approximately $38,000. Jones Financial Companies Lllp raised its holdings in shares of Columbia Sportswear by 208.3% in the first 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 period. Quarry LP purchased a new stake in shares of Columbia Sportswear in the first quarter worth approximately $44,000. Whipplewood Advisors LLC raised its holdings in shares of Columbia Sportswear by 12,400.0% in the first quarter. Whipplewood Advisors LLC now owns 625 shares of the textile maker's stock worth $47,000 after buying an additional 620 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Columbia Sportswear by 1,943.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 899 shares of the textile maker's stock worth $68,000 after buying an additional 855 shares during the period. 47.76% of the stock is currently owned by hedge funds and other institutional investors.

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.