Columbia Sportswear (NASDAQ:COLM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a hold rating to a buy rating in a research note released on Thursday.

Separately, TD Cowen lifted their price objective on Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Columbia Sportswear presently has an average rating of “Hold” and an average target price of $78.75.

Columbia Sportswear Price Performance

COLM opened at $87.88 on Thursday. The stock’s 50 day simple moving average is $82.47 and its 200 day simple moving average is $81.52. Columbia Sportswear has a 1 year low of $73.04 and a 1 year high of $88.92. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 3.71 and a beta of 0.94.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.20. The business had revenue of $931.80 million for the quarter, compared to analyst estimates of $937.17 million. Columbia Sportswear had a return on equity of 12.48% and a net margin of 6.42%. Columbia Sportswear’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.70 EPS. As a group, sell-side analysts anticipate that Columbia Sportswear will post 3.89 EPS for the current year.

Columbia Sportswear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. Columbia Sportswear’s dividend payout ratio is presently 33.15%.

Institutional Investors Weigh In On Columbia Sportswear

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Columbia Sportswear by 19.8% during the third quarter. Pacer Advisors Inc. now owns 1,773,584 shares of the textile maker’s stock valued at $147,544,000 after buying an additional 292,716 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Columbia Sportswear by 1.1% in the second quarter. Boston Trust Walden Corp now owns 1,304,761 shares of the textile maker’s stock valued at $103,180,000 after acquiring an additional 13,636 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Columbia Sportswear by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,195,386 shares of the textile maker’s stock valued at $94,530,000 after acquiring an additional 56,348 shares during the period. American Century Companies Inc. lifted its holdings in Columbia Sportswear by 153.3% in the second quarter. American Century Companies Inc. now owns 616,110 shares of the textile maker’s stock valued at $48,722,000 after acquiring an additional 372,886 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Columbia Sportswear by 0.8% in the third quarter. Geode Capital Management LLC now owns 604,824 shares of the textile maker’s stock valued at $50,328,000 after acquiring an additional 4,727 shares during the period. 47.76% of the stock is currently owned by 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.