Barclays Cuts Columbia Sportswear (NASDAQ:COLM) Price Target to $51.00

Columbia Sportswear (NASDAQ:COLM) had its target price lowered by Barclays from $62.00 to $51.00 in a report issued on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the textile maker’s stock.

Several other research firms have also recently issued reports on COLM. Citigroup reissued a “neutral” rating and set a $68.00 target price (down previously from $80.00) on shares of Columbia Sportswear in a research note on Monday, April 7th. Needham & Company LLC began coverage on Columbia Sportswear in a research note on Friday, May 30th. They set a “hold” rating for the company. UBS Group raised their target price on Columbia Sportswear from $42.00 to $51.00 and gave the stock a “sell” rating in a research note on Monday, April 14th. Finally, Stifel Nicolaus dropped their price objective on Columbia Sportswear from $91.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.80.

Columbia Sportswear Stock Down 12.9%

COLM stock opened at $49.30 on Friday. The business has a fifty day moving average of $61.35 and a two-hundred day moving average of $70.70. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 3.33 and a beta of 1.00. Columbia Sportswear has a 52-week low of $48.10 and a 52-week high of $92.88.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, July 31st. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.09. The company had revenue of $605.25 million during the quarter, compared to analysts’ expectations of $587.97 million. Columbia Sportswear had a return on equity of 12.97% and a net margin of 6.59%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.20) earnings per share. As a group, sell-side analysts anticipate that Columbia Sportswear will post 4.1 EPS for the current year.

Columbia Sportswear Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.4%. Columbia Sportswear’s payout ratio is presently 30.61%.

Insider Buying and Selling at Columbia Sportswear

In other news, Director Stephen E. Babson sold 2,776 shares of Columbia Sportswear stock in a transaction on Friday, May 9th. The stock was sold at an average price of $65.94, for a total value of $183,049.44. Following the completion of the sale, the director directly owned 128,309 shares of the company’s stock, valued at approximately $8,460,695.46. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 48.30% of the company’s stock.

Institutional Investors Weigh In On Columbia Sportswear

Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its holdings in Columbia Sportswear by 287.2% in the first quarter. State of Alaska Department of Revenue now owns 39,143 shares of the textile maker’s stock valued at $2,962,000 after purchasing an additional 29,035 shares during the period. GAMMA Investing LLC boosted its holdings in Columbia Sportswear by 8,642.2% in the first quarter. GAMMA Investing LLC now owns 52,453 shares of the textile maker’s stock valued at $3,970,000 after purchasing an additional 51,853 shares during the period. Teacher Retirement System of Texas purchased a new position in Columbia Sportswear in the first quarter valued at $518,000. Vest Financial LLC purchased a new position in Columbia Sportswear in the first quarter valued at $667,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Columbia Sportswear by 18.4% in the first quarter. Crossmark Global Holdings Inc. now owns 42,989 shares of the textile maker’s stock valued at $3,254,000 after purchasing an additional 6,693 shares during the period. 47.76% of the stock is owned by institutional investors and hedge funds.

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.