Columbia Sportswear Company (COLM) is Upgraded by Canaccord Genuity to Buy, Raises Price Target to $ 72

Columbia Sportswear Company (COLM) was Upgraded by Canaccord Genuity to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 72 from a previous price target of $59 . Earlier the firm had a rating of “Hold ” on the company shares. Canaccord Genuity advised their investors in a research report released on Sep 20, 2016.

Many Wall Street Analysts have commented on Columbia Sportswear Company. Company shares were Reiterated by FBR Capital on Jul 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 68 from a previous price target of $62 .

On the company’s financial health, Columbia Sportswear Company reported $-0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.17. The company had revenue of $388.70 million for the quarter, compared to analysts expectations of $392.03 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Columbia Sportswear Company closed down -0.36 points or -0.67% at $53.77 with 355,153 shares getting traded on Friday. Post opening the session at $54.13, the shares hit an intraday low of $53.48 and an intraday high of $54.18 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 22, 2016, Peter J Bragdon (EVP/CAO, Gen. Counsel & Sec.) sold 10,000 shares at $58.95 per share price. According to the SEC, on May 26, 2016, Ronald E. Nelson (director) sold 2,776 shares at $53.20 per share price. On Mar 2, 2016, Bryan Timm (President/COO) sold 13,172 shares at $60.47 per share price, according to the Form-4 filing with the securities and exchange commission.

Columbia Sportswear Company is a hat distributor. The Company designs sources markets and distributes outdoor and active lifestyle apparel footwear accessories and equipment under the Columbia Mountain Hardwear Sorel prAna and Montrail brands. It offers products including outerwear sportswear footwear accessories and equipment for a variety of activities and consumers. Its other brands include Montrail brand OutDry brand and Pacific Trail brand. It develops and manages its merchandise in two categories: apparel accessories and equipment and footwear. Its apparel accessories and equipment are designed to use in a variety of outdoor activities such as skiing snowboarding hiking climbing mountaineering camping hunting fishing trail running water sports and adventure travel. Its footwear products include durable lightweight hiking boots trail running shoes rugged cold weather boots and casual shoes. It operates in North America Europe Japan Korea and China.

Columbia Sportswear Company

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