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

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

Separately, TD Cowen upped 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $78.75.

Columbia Sportswear Price Performance

NASDAQ COLM opened at $87.16 on Wednesday. The company 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 company’s fifty day moving average price is $81.60 and its two-hundred day moving average price is $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. Columbia Sportswear had a net margin of 6.42% and a return on equity of 12.48%. The business had revenue of $931.80 million for the quarter, compared to analysts’ expectations of $937.17 million. During the same quarter last year, the company posted $1.70 earnings per share. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that Columbia Sportswear will post 3.87 EPS for the current year.

Columbia Sportswear Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COLM. Vanguard Group Inc. boosted its holdings in shares of Columbia Sportswear by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,170,400 shares of the textile maker’s stock valued at $257,373,000 after acquiring an additional 21,104 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Columbia Sportswear by 1.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 24,707 shares of the textile maker’s stock valued at $2,005,000 after purchasing an additional 413 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Columbia Sportswear by 4.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,690 shares of the textile maker’s stock valued at $2,005,000 after purchasing an additional 970 shares during the period. B. Riley Wealth Advisors Inc. grew its position in Columbia Sportswear by 7.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,698 shares of the textile maker’s stock worth $348,000 after purchasing an additional 336 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Columbia Sportswear during the first quarter valued at approximately $845,000. Institutional investors and hedge funds 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.