In a research note that was distributed to investors on Thursday, StockNews.com shifted its recommendation for Columbia Sportswear (NASDAQ: COLM) from a “hold” rating to a “buy” recommendation. Previously, it had given the stock a “hold” rating.
Research professionals from various fields have also provided recent reports about the company. In a research report made public on November 1, Cowen pushed their target price for Columbia Sportswear up to $89 from the previous $79. In addition, the letter grade assigned to Columbia Sportswear by TheStreet on November 23 was changed from a “c+” to a “b,” indicating an improvement in the company’s performance. Cowen gave the company an “outperform” rating in a report published on Tuesday, September 27, and raised their price target on Columbia Sportswear from $85.00 to $86.00. In addition, they increased the price target they had set for the stock. One financial expert has suggested selling the stock; two other analysts have maintained a hold rating for the stock; and five financial experts have maintained a buy rating. According to the data from Bloomberg, the company is currently projected to reach an average price of $86.88. It has been given a recommendation of “Moderate Buy” by most market analysts.
The price of COLM stock fell by $0.08 during the trading session at midday on Thursday, bringing the price to $91.95. In total, 345,777 shares of the company’s stock were traded, significantly higher than the typical daily volume of 300,410 shares. To arrive at its current market capitalization of $5.71 billion, the company has a price-to-earnings ratio of 17.25, an earnings growth price-to-earnings ratio of 1.87, and a beta value of 0.89. All of these metrics contribute in some way to the company’s profitability. Over the previous year, the price of Columbia Sportswear has fluctuated throughout the range of $65.02 to $101.64, with a low of $65.02 and a high of $101.64. The company’s moving average price over the past 50 days is $86.07, while the moving average price over the past 200 days is $77.70.
On October 27, the most recent earnings report for Columbia Sportswear, publicly traded and whose stock is denoted by the symbol NASDAQ: COLM, was made available to the public. The textile manufacturer reported earnings per share of $1.80 for the quarter, which was $0.13 higher than the estimate from industry analysts, who had predicted earnings of $1.67 per share on average. The company’s most recent quarter’s revenues came in at $955.06 million, which is lower than the generally accepted projection of $965.92 million for that particular period. Both the return on equity and the net margin for the company came in at 10.01% for Columbia Sportswear. The return on equity was 18.64%. Analysts in the industry anticipate that Columbia Sportswear will generate earnings of 5.23 cents per share during the current fiscal year.
Recently, there has been increased trading activity in the market from various institutional investors and hedge funds. These investors have been buying and selling shares of the company. As a result, the amount of Columbia Sportswear stock Ronald Blue Trust Inc. owns went up by 203.1% during the third quarter. As a result of Ronald Blue Trust Inc.’s additional purchase of 262 shares during the relevant period, the company now possesses a total of 391 shares of the textile manufacturer’s stock, which has an estimated value of $28,000. In addition, fifth Third Bancorp increased its ownership of Columbia Sportswear during the second quarter by a value equivalent to a 342.4% increase from the previous quarter. Following acquiring an additional 339 shares during the quarter, Fifth Third Bancorp is now the proud owner of 438 shares held by the textile company. The price of one share of stock is currently determined to be $31,000. In the third quarter, Quadrant Capital Group LLC saw a 110.3% increase in the Columbia Sportswear stock it held after purchasing additional shares. After making an additional purchase of 257 shares during the most recent quarter, Quadrant Capital Group LLC now owns a total of 490 shares of the textile manufacturer’s stock, which has a value of $33,000. These shares were purchased to bring the total number of shares owned by the company up to 490. The amount of ownership in Columbia Sportswear that Bessemer Group Inc. holds went up by 1,084.0% during the third quarter. As a result of Bessemer Group Inc.’s purchase of an additional 542 shares during the most recent fiscal quarter, the company now holds a total of 592 shares of the textile company’s stock, which has a value of $40,000 in its entirety. Lastly, but most certainly not least, Lazard Asset Management LLC bought $45,000 worth of Columbia Sportswear stock during the first quarter. This purchase should not be considered the least important. Four hundred and eighty-seven and a half percent of the total number of shares outstanding in the company are held by institutional investors and hedge funds.
The Columbia Sportswear Company designs, buy, sells, and distributes footwear, clothing, accessories, and equipment for outdoor, active, and everyday lifestyles in Canada, the United States, Latin America, Asia Pacific, Europe, the Middle East, and Africa. In addition, the company operates in Africa. Individuals who adopt lifestyles such as these are the target market for the products in this category. In addition, the company offers a wide range of services for various outdoor pursuits, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel.