Columbia Sportswear (COLM) Upgraded by Stifel Nicolaus to Buy

Stifel Nicolaus upgraded shares of Columbia Sportswear (NASDAQ:COLM) from a hold rating to a buy rating in a research note released on Friday, The Fly reports. They currently have $103.00 price target on the textile maker’s stock, up from their previous price target of $93.00.

A number of other research analysts also recently issued reports on the stock. Pivotal Research set a $94.00 price target on shares of Columbia Sportswear and gave the stock a hold rating in a research note on Wednesday, October 24th. Buckingham Research lifted their price target on shares of Columbia Sportswear from $84.00 to $85.00 and gave the stock a neutral rating in a research note on Wednesday, October 17th. Wedbush lifted their price target on shares of Columbia Sportswear from $102.00 to $103.00 and gave the stock an outperform rating in a research note on Wednesday, October 3rd. BidaskClub downgraded shares of Columbia Sportswear from a buy rating to a hold rating in a research note on Tuesday, August 28th. Finally, Cowen upgraded shares of Columbia Sportswear from a market perform rating to an outperform rating and set a $59.00 price target for the company in a research note on Wednesday, August 15th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $90.18.

Shares of Columbia Sportswear stock opened at $89.80 on Friday. Columbia Sportswear has a 52-week low of $60.76 and a 52-week high of $95.58. The company has a market capitalization of $5.99 billion, a P/E ratio of 30.13, a PEG ratio of 2.23 and a beta of 0.77.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings results on Thursday, October 25th. The textile maker reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. Columbia Sportswear had a net margin of 5.56% and a return on equity of 15.46%. The company had revenue of $795.80 million during the quarter, compared to the consensus estimate of $791.25 million. As a group, equities research analysts forecast that Columbia Sportswear will post 3.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, November 14th. This is an increase from Columbia Sportswear’s previous quarterly dividend of $0.22. Columbia Sportswear’s payout ratio is currently 29.53%.

Columbia Sportswear announced that its Board of Directors has authorized a stock repurchase program on Monday, August 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the textile maker to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

In other news, EVP Joseph P. Boyle sold 1,443 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $90.99, for a total transaction of $131,298.57. Following the completion of the sale, the executive vice president now owns 2,116,597 shares in the company, valued at approximately $192,589,161.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas H. Morse sold 688 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $91.00, for a total transaction of $62,608.00. Following the sale, the senior vice president now owns 460 shares of the company’s stock, valued at approximately $41,860. The disclosure for this sale can be found here. Insiders have sold a total of 8,661 shares of company stock valued at $789,646 in the last 90 days. Insiders own 56.68% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in Columbia Sportswear by 9.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 80,993 shares of the textile maker’s stock valued at $7,512,000 after purchasing an additional 6,881 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Columbia Sportswear by 143.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 973,401 shares of the textile maker’s stock valued at $89,955,000 after purchasing an additional 573,517 shares during the last quarter. First Trust Advisors LP purchased a new stake in Columbia Sportswear in the 3rd quarter valued at $5,010,000. Handelsbanken Fonder AB purchased a new stake in Columbia Sportswear in the 3rd quarter valued at $2,792,000. Finally, Strs Ohio raised its position in 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. Hedge funds and other institutional investors own 38.27% of the company’s stock.

Columbia Sportswear Company Profile

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.

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The Fly

Analyst Recommendations for Columbia Sportswear (NASDAQ:COLM)

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