Columbia Sportswear (NASDAQ:COLM) Given New $84.00 Price Target at TD Cowen

Columbia Sportswear (NASDAQ:COLM) had its price target increased by equities research analysts at TD Cowen from $70.00 to $84.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the textile maker’s stock. TD Cowen’s price objective would indicate a potential downside of 4.47% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $78.75.

Columbia Sportswear Stock Performance

Shares of COLM stock traded down $0.14 during trading hours on Tuesday, hitting $87.93. 85,161 shares of the company were exchanged, compared to its average volume of 462,711. The business’s 50-day simple moving average is $81.53 and its two-hundred day simple moving average is $81.28. Columbia Sportswear has a one year low of $73.04 and a one year high of $88.62. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 3.52 and a beta of 0.92.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 EPS for the quarter, beating 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 company had revenue of $931.80 million for the quarter, compared to analyst estimates of $937.17 million. During the same quarter last year, the business earned $1.70 earnings per share. Columbia Sportswear’s 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 fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Columbia Sportswear by 0.7% during the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Columbia Sportswear by 1.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 24,707 shares of the textile maker’s stock worth $2,005,000 after purchasing an additional 413 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Columbia Sportswear by 4.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,690 shares of the textile maker’s stock worth $2,005,000 after buying an additional 970 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Columbia Sportswear by 7.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,698 shares of the textile maker’s stock worth $348,000 after buying 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 worth approximately $845,000. Institutional investors own 47.76% of the company’s stock.

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.