Columbia Sportswear (NASDAQ:COLM) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

A number of other research analysts have also issued reports on COLM. Pivotal Research restated a buy rating and set a $125.00 price objective (up previously from $120.00) on shares of Columbia Sportswear in a research report on Friday, July 26th. Wedbush boosted their price objective on Columbia Sportswear from $118.00 to $124.00 and gave the company an outperform rating in a research report on Friday, July 26th. BidaskClub upgraded Columbia Sportswear from a sell rating to a hold rating in a research report on Friday, May 17th. Bank of America upgraded Columbia Sportswear from a neutral rating to a buy rating and boosted their price objective for the company from $112.00 to $130.00 in a research report on Tuesday, July 23rd. Finally, B. Riley set a $109.00 price objective on Columbia Sportswear and gave the company a hold rating in a research report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Columbia Sportswear has an average rating of Buy and a consensus target price of $118.00.

Shares of NASDAQ COLM traded down $1.14 during trading on Thursday, reaching $101.90. The stock had a trading volume of 296,168 shares, compared to its average volume of 298,587. Columbia Sportswear has a one year low of $80.03 and a one year high of $109.74. The company has a current ratio of 3.41, a quick ratio of 2.33 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $6.96 billion, a PE ratio of 25.41, a PEG ratio of 2.03 and a beta of 0.67. The stock has a 50 day simple moving average of $101.67.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.22. Columbia Sportswear had a return on equity of 18.02% and a net margin of 10.73%. The business had revenue of $526.21 million during the quarter, compared to the consensus estimate of $507.16 million. During the same period in the previous year, the business earned $0.16 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts expect that Columbia Sportswear will post 4.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.96 dividend on an annualized basis and a yield of 0.94%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 23.94%.

In other Columbia Sportswear news, COO Thomas B. Cusick sold 17,260 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $107.77, for a total transaction of $1,860,110.20. Following the completion of the transaction, the chief operating officer now owns 43,214 shares in the company, valued at approximately $4,657,172.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Murrey R. Albers sold 11,608 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $97.32, for a total value of $1,129,690.56. Following the transaction, the director now owns 39,350 shares of the company’s stock, valued at approximately $3,829,542. The disclosure for this sale can be found here. Insiders have sold a total of 90,546 shares of company stock valued at $9,591,071 in the last quarter. 56.57% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Financial Gravity Wealth Inc. lifted its holdings in shares of Columbia Sportswear by 4,581.8% in the second quarter. Financial Gravity Wealth Inc. now owns 515 shares of the textile maker’s stock valued at $52,000 after buying an additional 504 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Columbia Sportswear in the first quarter valued at $61,000. Machina Capital S.A.S. lifted its holdings in shares of Columbia Sportswear by 17.9% in the second quarter. Machina Capital S.A.S. now owns 1,000 shares of the textile maker’s stock valued at $100,000 after buying an additional 152 shares during the period. Anderson Fisher LLC acquired a new stake in shares of Columbia Sportswear in the first quarter valued at $111,000. Finally, Whittier Trust Co. acquired a new stake in shares of Columbia Sportswear in the first quarter valued at $156,000. Institutional investors own 38.08% of the company’s stock.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East and Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

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Analyst Recommendations for Columbia Sportswear (NASDAQ:COLM)

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