Columbia Sportswear (NASDAQ:COLM) Trading Down 5.3% – Here’s Why

Shares of Columbia Sportswear (NASDAQ:COLM) dropped 5.3% during mid-day trading on Monday . The company traded as low as $79.88 and last traded at $79.88. Approximately 141,614 shares traded hands during trading, a decline of 69% from the average daily volume of 453,664 shares. The stock had previously closed at $84.39.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COLM. StockNews.com cut Columbia Sportswear from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Columbia Sportswear in a research note on Thursday, July 18th. Finally, Stifel Nicolaus raised 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 report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.00.

Columbia Sportswear Trading Down 4.2 %

The stock has a 50-day simple moving average of $81.54 and a 200 day simple moving average of $80.71. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 3.00 and a beta of 0.92.

Columbia Sportswear (NASDAQ:COLM) last issued its earnings results on Thursday, July 25th. The textile maker reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.14. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. The firm had revenue of $570.20 million for the quarter, compared to analyst estimates of $569.37 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Columbia Sportswear’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, research analysts forecast that Columbia Sportswear will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Columbia Sportswear

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Columbia Sportswear by 116.6% in the second quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock worth $34,000 after buying an additional 225 shares during the last quarter. GAMMA Investing LLC boosted its position in Columbia Sportswear by 51.3% in the 3rd quarter. GAMMA Investing LLC now owns 419 shares of the textile maker’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Columbia Sportswear by 174.8% during the 1st quarter. Headlands Technologies LLC now owns 599 shares of the textile maker’s stock worth $49,000 after purchasing an additional 381 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Columbia Sportswear during the 1st quarter valued at approximately $64,000. Finally, Dnca Finance acquired a new position in shares of Columbia Sportswear in the 2nd quarter valued at $68,000. 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.