Columbia Sportswear (NASDAQ:COLM) – Equities research analysts at Wedbush upped their Q3 2019 earnings estimates for Columbia Sportswear in a report issued on Monday, October 21st. Wedbush analyst C. Svezia now expects that the textile maker will post earnings per share of $1.55 for the quarter, up from their previous estimate of $1.53. Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Columbia Sportswear’s FY2019 earnings at $4.68 EPS, Q1 2020 earnings at $1.16 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $1.74 EPS, Q4 2020 earnings at $2.05 EPS, FY2020 earnings at $5.22 EPS and FY2021 earnings at $5.80 EPS.
A number of other analysts also recently weighed in on COLM. ValuEngine downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Pivotal Research restated a “buy” rating and issued a $125.00 price target (up from $120.00) on shares of Columbia Sportswear in a research note on Friday, July 26th. Zacks Investment Research upgraded Columbia Sportswear from a “hold” rating to a “strong-buy” rating and set a $106.00 price target on the stock in a research note on Monday. Finally, Stifel Nicolaus set a $129.00 price target on Columbia Sportswear and gave the company a “buy” rating in a research note on Friday, July 26th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $117.50.
Columbia Sportswear (NASDAQ:COLM) last announced its earnings results on Thursday, July 25th. The textile maker reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.22. Columbia Sportswear had a return on equity of 18.14% and a net margin of 10.73%. The company had revenue of $526.21 million for the quarter, compared to the consensus estimate of $507.16 million. During the same period last year, the business posted $0.16 EPS. The company’s revenue was up 9.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in COLM. Atlanta Capital Management Co. L L C raised its holdings in shares of Columbia Sportswear by 14.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 2,971,514 shares of the textile maker’s stock worth $297,627,000 after acquiring an additional 369,222 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Columbia Sportswear by 221.8% in the second quarter. Allianz Asset Management GmbH now owns 430,356 shares of the textile maker’s stock worth $43,104,000 after acquiring an additional 296,619 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Columbia Sportswear by 308.6% in the second quarter. Handelsbanken Fonder AB now owns 364,100 shares of the textile maker’s stock worth $36,468,000 after acquiring an additional 275,000 shares during the last quarter. South Texas Money Management Ltd. acquired a new position in Columbia Sportswear in the second quarter valued at $18,265,000. Finally, Point72 Asset Management L.P. acquired a new position in Columbia Sportswear in the second quarter valued at $15,469,000. 37.68% of the stock is owned by institutional investors.
In related news, CAO Peter J. Bragdon sold 10,838 shares of Columbia Sportswear stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $107.40, for a total transaction of $1,164,001.20. Following the completion of the transaction, the chief accounting officer now directly owns 27,733 shares of the company’s stock, valued at $2,978,524.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Malia H. Wasson sold 8,693 shares of Columbia Sportswear stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.83, for a total value of $919,980.19. Following the transaction, the director now directly owns 6,849 shares of the company’s stock, valued at $724,829.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,318 shares of company stock valued at $8,186,281. 56.57% of the stock is currently owned by insiders.
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 and 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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