Zacks Investment Research downgraded shares of Columbia Sportswear Company (NASDAQ:COLM) from a hold rating to a sell rating in a research report sent to investors on Monday, July 24th.
According to Zacks, “Shares of Columbia Sportswear have underperformed the industry in the last three months. Despite a robust brand portfolio, strategic partnerships and efforts to strengthen its Sorel brand, Columbia Sportswear has been facing challenges in the U.S. region, mainly in its U.S. wholesale front. This, along with tough geopolitical conditions in Korea is hampering the overall sales of the company. Its Columbia and prAna brands are suffering setbacks in Korea as there is a general shift of consumer preference away from outdoor sector in the region. Moreover, higher excise duties may put pressure on margin and, in turn, mar the overall profitability. Also, currency headwind remains a major concern for the company and is expected to impact negatively in 2017. Notably, the estimates have been stable ahead of the company’s second-quarter 2017 earnings release.”
COLM has been the topic of several other reports. Goldman Sachs Group, Inc. (The) cut Columbia Sportswear from a conviction-buy rating to a buy rating in a report on Tuesday, May 23rd. Canaccord Genuity cut Columbia Sportswear from a buy rating to a hold rating and reduced their price target for the stock from $64.00 to $60.00 in a report on Friday, April 28th. Buckingham Research restated a neutral rating and set a $58.00 price target on shares of Columbia Sportswear in a report on Monday, July 17th. Cowen and Company set a $58.00 target price on Columbia Sportswear and gave the company a hold rating in a report on Wednesday, July 19th. Finally, Forward View cut Columbia Sportswear from a buy rating to a hold rating in a report on Saturday, May 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $63.45.
Columbia Sportswear (NASDAQ:COLM) traded down 2.05% on Monday, reaching $56.45. 147,062 shares of the company’s stock were exchanged. Columbia Sportswear has a 52 week low of $51.56 and a 52 week high of $63.55. The stock’s 50 day moving average is $57.89 and its 200 day moving average is $56.77. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 20.58 and a beta of 0.80.
Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, July 27th. The textile maker reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.03. The firm had revenue of $398.90 million for the quarter, compared to analysts’ expectations of $394.53 million. Columbia Sportswear had a return on equity of 12.31% and a net margin of 8.01%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. On average, equities analysts anticipate that Columbia Sportswear will post $2.79 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, August 15th. Columbia Sportswear’s payout ratio is currently 26.47%.
In other Columbia Sportswear news, Director Edward S. George sold 1,776 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $53.59, for a total value of $95,175.84. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $107,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 58.86% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning increased its position in Columbia Sportswear by 0.6% in the first quarter. Creative Planning now owns 2,754 shares of the textile maker’s stock valued at $162,000 after buying an additional 17 shares during the last quarter. Alps Advisors Inc. increased its position in Columbia Sportswear by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,532 shares of the textile maker’s stock valued at $495,000 after buying an additional 22 shares during the last quarter. HL Financial Services LLC increased its position in Columbia Sportswear by 0.9% in the first quarter. HL Financial Services LLC now owns 4,022 shares of the textile maker’s stock valued at $236,000 after buying an additional 35 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Columbia Sportswear by 0.8% in the first quarter. Envestnet Asset Management Inc. now owns 8,093 shares of the textile maker’s stock worth $476,000 after buying an additional 66 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Columbia Sportswear by 4.1% in the second quarter. Stifel Financial Corp now owns 4,122 shares of the textile maker’s stock worth $240,000 after buying an additional 162 shares during the period. Institutional investors own 39.11% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Company is an apparel and footwear company. The Company designs, sources, markets and distributes outdoor lifestyle apparel, footwear, accessories and equipment under the Columbia, Mountain Hardwear, Sorel, prAna and other brands. Its geographic segments are the United States, Latin America and Asia Pacific (LAAP), Europe, Middle East and Africa (EMEA), and Canada.
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