Columbia Sportswear (NASDAQ:COLM) Sets New 52-Week High – Still a Buy?

Columbia Sportswear (NASDAQ:COLM)’s share price reached a new 52-week high on Wednesday . The company traded as high as $91.30 and last traded at $90.47, with a volume of 20036 shares trading hands. The stock had previously closed at $90.71.

Analysts Set New Price Targets

Several brokerages have commented on COLM. TD Cowen boosted their target price on shares of Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. StockNews.com upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Finally, Stifel Nicolaus raised their target price on shares of Columbia Sportswear from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.75.

Columbia Sportswear Price Performance

The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 3.74 and a beta of 0.94. The business’s 50-day moving average price is $83.46 and its two-hundred day moving average price is $81.74.

Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Wednesday, October 30th. The textile maker reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS. Columbia Sportswear’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Columbia Sportswear will post 3.89 earnings per share for the current year.

Columbia Sportswear Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.33%. Columbia Sportswear’s dividend payout ratio (DPR) is 33.15%.

Hedge Funds Weigh In On Columbia Sportswear

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in Columbia Sportswear by 44.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,480,868 shares of the textile maker’s stock worth $117,107,000 after acquiring an additional 454,738 shares in the last quarter. American Century Companies Inc. boosted its stake 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 during the period. AQR Capital Management LLC increased its stake in Columbia Sportswear by 149.0% during the 2nd quarter. AQR Capital Management LLC now owns 195,933 shares of the textile maker’s stock worth $15,463,000 after buying an additional 117,260 shares during the period. International Assets Investment Management LLC acquired a new position in Columbia Sportswear in the 3rd quarter worth $7,676,000. Finally, Marshall Wace LLP boosted its position in Columbia Sportswear by 1,574.3% in the 2nd quarter. Marshall Wace LLP now owns 80,383 shares of the textile maker’s stock valued at $6,357,000 after buying an additional 75,582 shares during the last quarter. Hedge funds and other institutional investors own 47.76% of the company’s stock.

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.