Columbia Sportswear (NASDAQ:COLM) Upgraded at StockNews.com

StockNews.com upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a hold rating to a buy rating in a report issued on Thursday morning.

Separately, TD Cowen increased their target price 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Columbia Sportswear presently has a consensus rating of “Hold” and a consensus price target of $78.75.

Columbia Sportswear Stock Down 0.8 %

Shares of COLM opened at $87.88 on Thursday. The business has a 50-day simple moving average of $82.47 and a two-hundred day simple moving average of $81.52. The stock 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 has a 52 week low of $73.04 and a 52 week high of $88.92.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. The business had revenue of $931.80 million during the quarter, compared to analysts’ expectations of $937.17 million. Columbia Sportswear had a return on equity of 12.48% and a net margin of 6.42%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 earnings per share. On average, equities analysts anticipate that Columbia Sportswear will post 3.89 earnings per share for the current fiscal year.

Columbia Sportswear Dividend Announcement

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

Hedge Funds Weigh In On Columbia Sportswear

Several institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Columbia Sportswear by 2.1% during the 3rd quarter. Franklin Resources Inc. now owns 212,061 shares of the textile maker’s stock valued at $16,950,000 after buying an additional 4,425 shares in the last quarter. Geode Capital Management LLC grew its holdings in Columbia Sportswear by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 604,824 shares of the textile maker’s stock valued at $50,328,000 after buying an additional 4,727 shares in the last quarter. Petrus Trust Company LTA purchased a new position in Columbia Sportswear during the 3rd quarter valued at approximately $715,000. Holocene Advisors LP grew its holdings in Columbia Sportswear by 71.8% during the 3rd quarter. Holocene Advisors LP now owns 57,200 shares of the textile maker’s stock valued at $4,758,000 after buying an additional 23,909 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Columbia Sportswear by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,102 shares of the textile maker’s stock valued at $8,910,000 after buying an additional 794 shares in the last quarter. Hedge funds and other 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.