Columbia Sportswear (NASDAQ:COLM) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Columbia Sportswear (NASDAQ:COLM) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Separately, TD Cowen boosted their price target on Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a research 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’s stock. 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

COLM opened at $87.16 on Wednesday. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 3.71 and a beta of 0.92. Columbia Sportswear has a 12 month low of $73.04 and a 12 month high of $88.62. The business has a 50-day moving average of $81.60 and a two-hundred day moving average of $81.30.

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

Columbia Sportswear Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.20 annualized dividend and a yield of 1.38%. Columbia Sportswear’s dividend payout ratio is currently 33.15%.

Institutional Investors Weigh In On Columbia Sportswear

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Columbia Sportswear by 116.6% during the 2nd quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock worth $34,000 after acquiring an additional 225 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Columbia Sportswear by 51.3% during the third quarter. GAMMA Investing LLC now owns 419 shares of the textile maker’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Columbia Sportswear in the third quarter valued at $65,000. Dnca Finance acquired a new stake in Columbia Sportswear during the 2nd quarter valued at $68,000. Finally, nVerses Capital LLC purchased a new stake in Columbia Sportswear during the 3rd quarter worth $75,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.

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.