StockNews.com Downgrades Columbia Sportswear (NASDAQ:COLM) to Hold

Columbia Sportswear (NASDAQ:COLM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

COLM has been the topic of several other reports. Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. Stifel Nicolaus upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and increased their price objective for the company from $84.00 to $92.00 in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.00.

Columbia Sportswear Stock Performance

NASDAQ COLM opened at $82.43 on Friday. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.01 and a beta of 0.92. The stock has a 50-day moving average of $81.29 and a 200 day moving average of $80.51. Columbia Sportswear has a one year low of $66.01 and a one year high of $87.23.

Columbia Sportswear (NASDAQ:COLM) last issued its quarterly earnings data on Thursday, July 25th. The textile maker reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.14. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. The company had revenue of $570.20 million during the quarter, compared to analyst estimates of $569.37 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. Columbia Sportswear’s revenue was down 8.2% compared to the same quarter last year. On average, equities analysts predict that Columbia Sportswear will post 3.85 earnings per share for the current fiscal year.

Institutional Trading of Columbia Sportswear

Several hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Columbia Sportswear by 44.3% during the second quarter. Pacer Advisors Inc. now owns 1,480,868 shares of the textile maker’s stock worth $117,107,000 after purchasing an additional 454,738 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Columbia Sportswear by 153.3% in the second quarter. American Century Companies Inc. now owns 616,110 shares of the textile maker’s stock valued at $48,722,000 after purchasing an additional 372,886 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Columbia Sportswear by 149.0% in the second quarter. AQR Capital Management LLC now owns 195,933 shares of the textile maker’s stock valued at $15,463,000 after purchasing an additional 117,260 shares during the last quarter. First Trust Advisors LP grew its position in shares of Columbia Sportswear by 28.3% in the fourth quarter. First Trust Advisors LP now owns 476,608 shares of the textile maker’s stock valued at $37,909,000 after purchasing an additional 105,193 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in Columbia Sportswear by 1,128.3% during the fourth quarter. Verition Fund Management LLC now owns 110,106 shares of the textile maker’s stock worth $8,758,000 after buying an additional 101,142 shares in the last quarter. 47.76% of the stock is currently owned by institutional investors and hedge funds.

About Columbia Sportswear

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.