Needham & Company LLC Downgrades Columbia Sportswear (COLM) to Hold

Needham & Company LLC downgraded shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a hold rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The analysts noted that the move was a valuation call.

Several other research firms have also recently issued reports on COLM. DA Davidson upgraded Columbia Sportswear from a neutral rating to a buy rating and set a $105.00 target price for the company in a research report on Thursday, November 29th. Macquarie set a $106.00 target price on Columbia Sportswear and gave the stock a hold rating in a research report on Friday, October 26th. Pivotal Research set a $94.00 target price on Columbia Sportswear and gave the stock a hold rating in a research report on Wednesday, October 24th. Canaccord Genuity increased their target price on Columbia Sportswear from $89.00 to $93.00 and gave the stock a hold rating in a research report on Friday, October 26th. Finally, Citigroup increased their target price on Columbia Sportswear from $106.00 to $122.00 and gave the stock a buy rating in a research report on Monday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $94.40.

NASDAQ:COLM opened at $82.55 on Thursday. Columbia Sportswear has a 12-month low of $70.36 and a 12-month high of $95.74. The stock has a market cap of $5.80 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.90 and a beta of 0.72.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, October 25th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.14. Columbia Sportswear had a return on equity of 15.43% and a net margin of 5.56%. The firm had revenue of $795.80 million during the quarter, compared to analysts’ expectations of $791.25 million. As a group, analysts forecast that Columbia Sportswear will post 3.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, November 14th. This is a boost from Columbia Sportswear’s previous quarterly dividend of $0.22. Columbia Sportswear’s dividend payout ratio (DPR) is currently 32.21%.

In other Columbia Sportswear news, Director Andy D. Bryant sold 13,274 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $91.75, for a total transaction of $1,217,889.50. Following the completion of the transaction, the director now owns 42,060 shares in the company, valued at approximately $3,859,005. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sarah Bany sold 19,946 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $88.91, for a total value of $1,773,398.86. Following the transaction, the director now owns 11,610 shares of the company’s stock, valued at approximately $1,032,245.10. The disclosure for this sale can be found here. Company insiders own 56.68% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COLM. Neuberger Berman Group LLC lifted its stake in shares of Columbia Sportswear by 1.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 19,883 shares of the textile maker’s stock valued at $1,851,000 after purchasing an additional 283 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Columbia Sportswear by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 13,842 shares of the textile maker’s stock valued at $1,289,000 after purchasing an additional 292 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Columbia Sportswear by 33.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,134 shares of the textile maker’s stock valued at $290,000 after purchasing an additional 788 shares during the last quarter. Strs Ohio lifted its stake in shares of Columbia Sportswear by 19.3% in the 3rd quarter. Strs Ohio now owns 6,088 shares of the textile maker’s stock valued at $566,000 after purchasing an additional 983 shares during the last quarter. Finally, Greenwood Capital Associates LLC lifted its stake in shares of Columbia Sportswear by 39.6% in the 3rd quarter. Greenwood Capital Associates LLC now owns 3,854 shares of the textile maker’s stock valued at $359,000 after purchasing an additional 1,094 shares during the last quarter. Institutional investors and hedge funds own 36.86% of the company’s stock.

About Columbia Sportswear

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active 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 that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

Further Reading: Outstanding Shares

Analyst Recommendations for Columbia Sportswear (NASDAQ:COLM)

Receive News & Ratings for Columbia Sportswear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbia Sportswear and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply