Columbia Sportswear (NASDAQ:COLM) Cut to Hold at StockNews.com

Columbia Sportswear (NASDAQ:COLM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, TD Cowen boosted their price objective on Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.75.

Columbia Sportswear Price Performance

Columbia Sportswear stock traded up $0.24 during trading hours on Wednesday, hitting $87.16. 319,588 shares of the stock traded hands, compared to its average volume of 463,467. The firm’s 50 day moving average price is $81.60 and its 200-day moving average price is $81.30. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 3.71 and a beta of 0.92. Columbia Sportswear has a 1 year low of $73.04 and a 1 year high of $88.62.

Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.20. The business had revenue of $931.80 million for the quarter, compared to the consensus estimate of $937.17 million. Columbia Sportswear had a return on equity of 12.48% and a net margin of 6.42%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.70 EPS. Research analysts forecast that Columbia Sportswear will post 3.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Columbia Sportswear

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Columbia Sportswear by 116.6% in the second quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 225 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Columbia Sportswear by 51.3% in the third quarter. GAMMA Investing LLC now owns 419 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 142 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Columbia Sportswear in the third quarter valued at approximately $65,000. Dnca Finance purchased a new stake in shares of Columbia Sportswear in the second quarter valued at approximately $68,000. Finally, nVerses Capital LLC purchased a new stake in shares of Columbia Sportswear in the third quarter valued at approximately $75,000. 47.76% of the stock is currently owned by hedge funds and other 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.