Zacks Investment Research downgrades Columbia Sportswear (NASDAQ: COLM) for sale
Columbia Sportswear (NASDAQ: COLM) was downgraded by Zacks Investment Research from a âholdâ rating to a âsellâ rating in a research report released Tuesday to clients and investors, Zacks.com reports. They currently have a target price of $ 104.00 on the textile maker’s inventory. Zacks Investment Research’s target price suggests a potential rise of 6.54% from the company’s current price.
According to Zacks, âColumbia Sportswear stocks have underperformed the industry for the past six months. The company recorded high SG&A expenses and high ocean freight costs in the third quarter of 2021. The company said in its third quarter earnings release that demand for ocean-going vessels and containers has remained high relative to its available capacity, causing a massive increase in sea freight costs. Apart from that, supply chain obstacles and disruption caused by plant closures in Vietnam are cause for concern. However, the company benefited from its strong direct-to-consumer (DTC) e-commerce, which remained a driving force in the third quarter of 2021, where profits and sales increased year-over-year. which in turn benefited from improved traffic. Management has raised its profit forecast for 2021.
Several other research analysts also commented on the company recently. Stifel Nicolaus downgraded Columbia Sportswear from a “buy” rating to a “conservation” rating and lowered its price target for the stock from $ 126.00 to $ 111.00 in a research note on Thursday December 16. Bank of America slashed Columbia Sportswear from a “buy” rating to a “neutral” rating and cut its target price for the stock from $ 137.00 to $ 108.00 in a research report released on Tuesday October 5. Finally, Robert W. Baird downgraded Columbia Sportswear from an “outperforming” rating to a “neutral” rating and lowered its target stock price from $ 130.00 to $ 107.00 in a research report released Tuesday. . One stock research analyst rated the stock with a sell rating, four assigned a conservation rating, and one assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $ 112.67.
COLM stock traded down $ 0.48 in Tuesday’s session, reaching $ 97.62. The stock had a trade volume of 4,530 shares, compared to its average volume of 339,446. The stock’s 50-day moving average is $ 100.40 and its two-hundred-day moving average is 100. , $ 16. Columbia Sportswear has a 52-week low of $ 84.19 and a 52-week high of $ 114.98. The company has a market cap of $ 6.37 billion, a PE ratio of 22.14, a PEG ratio of 0.61 and a beta of 0.90.
Columbia Sportswear (NASDAQ: COLM) last released its quarterly earnings data on Thursday, October 28. The textile maker reported EPS of $ 1.52 for the quarter, beating the consensus estimate of $ 1.31 by $ 0.21. Columbia Sportswear reported a return on equity of 15.74% and a net margin of 10.06%. The company posted revenue of $ 804.70 million for the quarter, compared to a consensus estimate of $ 862.03 million. In the same quarter of last year, the company made a profit of $ 0.94 per share. The company’s revenue for the quarter increased 14.8% from the same quarter last year. Research analysts predict Columbia Sportswear will post 4.72 EPS for the current fiscal year.
In other Columbia Sportswear news, director Walter Klenz sold 1,192 shares of the company in a trade that took place on Friday, November 12. The stock was sold for an average price of $ 105.97, for a total trade of $ 126,316.24. The transaction was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. Company insiders own 40.33% of the company’s shares.
Several large investors have recently bought and sold shares of COLM. Envestnet Asset Management Inc. increased its stake in Columbia Sportswear shares by 14.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 23,103 shares of the textile maker valued at $ 2,272,000 after purchasing an additional 2,989 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Columbia Sportswear shares by 17.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,936 shares of the textile maker valued at $ 387,000 after acquiring 583 additional shares in the last quarter. Rhumbline Advisers increased its stake in Columbia Sportswear by 10.9% during the 2nd quarter. Rhumbline Advisers now owns 91,352 shares of the textile maker valued at $ 8,985,000 after acquiring an additional 8,942 shares in the last quarter. American Century Companies Inc. purchased a new equity stake in Columbia Sportswear during the second quarter valued at approximately $ 245,000. Finally, the Swiss National Bank increased its stake in the shares of Columbia Sportswear by 7.5% during the second quarter. The Swiss National Bank now owns 73,200 shares of the textile manufacturer valued at $ 7,200,000 after acquiring an additional 5,100 shares in the last quarter. 51.67% of the shares are held by institutional investors and hedge funds.
About Columbia Sportswear
Columbia Sportswear Co is engaged in the design, sourcing, marketing and distribution of outdoor and active lifestyle apparel, footwear, accessories and equipment. It operates through the following geographic segments: the United States; Latin America and Asia-Pacific; Europe, Middle East and Africa; and Canadian.
Further reading: trading stops explained
Get a Free Copy of Zacks’ Columbia Sportswear (COLM) Research Report
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Columbia Sportswear right now?
Before you consider Columbia Sportswear, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold ofâ¦ and Columbia Sportswear was not on the list.
While Columbia Sportswear currently has a âHoldâ rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here