Columbia Sportswear (NASDAQ:COLM) Upgraded to Buy by StockNews.com

Columbia Sportswear (NASDAQ:COLM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other brokerages also recently issued reports on COLM. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Columbia Sportswear in a report on Thursday, July 18th. Stifel Nicolaus upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and lifted their price target for the company from $84.00 to $92.00 in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.00.

Columbia Sportswear Price Performance

Shares of NASDAQ:COLM traded up $0.63 during mid-day trading on Friday, reaching $82.76. 258,275 shares of the company were exchanged, compared to its average volume of 466,469. Columbia Sportswear has a 1 year low of $66.01 and a 1 year high of $87.23. The firm’s 50-day simple moving average is $80.80 and its 200 day simple moving average is $80.39. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 3.01 and a beta of 0.92.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, July 25th. The textile maker reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.14. The business had revenue of $570.20 million during the quarter, compared to analyst estimates of $569.37 million. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. On average, research analysts forecast that Columbia Sportswear will post 3.85 earnings per share for the current fiscal year.

Institutional Trading of Columbia Sportswear

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Columbia Sportswear during the 4th quarter worth about $22,526,000. Intech Investment Management LLC purchased a new stake in shares of Columbia Sportswear during the fourth quarter worth about $301,000. TFO Wealth Partners LLC raised its position in shares of Columbia Sportswear by 11,725.0% in the fourth quarter. TFO Wealth Partners LLC now owns 473 shares of the textile maker’s stock valued at $38,000 after buying an additional 469 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Columbia Sportswear during the fourth quarter valued at approximately $528,000. Finally, KBC Group NV lifted its stake in shares of Columbia Sportswear by 3.5% during the fourth quarter. KBC Group NV now owns 19,890 shares of the textile maker’s stock valued at $1,582,000 after buying an additional 675 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.