Columbia Sportswear Company (NASDAQ: COLM) shares rose on Friday, January 13 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
Columbia Sportswear Company (NASDAQ: COLM) had its price target boosted by equities researchers at Wedbush from $0.00 to $72.00. Wedbush currently has a rating of Outperform on the stock. A number of other analysts have issued reports on the stock in recent days, and the company has secured a consensus one-year price target of $64.69, above the opening price of $55.79, a difference of 11.49 percent. Columbia Sportswear Company stock has a 52-week high of $63.55.
Shares of Columbia Sportswear Company (NASDAQ: COLM) opened at $55.79 yesterday and traded in a range between, $55.40 and $56.32, and last traded at $56.30, a spike of $1.43 from the previous closing price.
Columbia Sportswear Company (NASDAQ: COLM) currently has a market cap of 3.93B.
Columbia Sportswear Company (NASDAQ: COLM) Average Daily Trading Volume
241,772 shares crossed the trading desk yesterday, 77 percent lower than the norm, out of a total float 27,054,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts that investigate thousands of stocks, so it is good confirmation to see them buying a stock you are considering.
Columbia Sportswear Company (NASDAQ: COLM) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Columbia Sportswear Company (NASDAQ: COLM) now has a 50-day MA of $58.90 and 200-day MA of $57.81. It has traded in a 52-week range between $43.94 – 63.55 and today’s last price is 11.41%% lower than the 52 week high of $63.55.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more for 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.