Columbia Sportswear (NASDAQ:COLM) Shares Gap Down – Here’s What Happened

Columbia Sportswear (NASDAQ:COLM)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $82.89, but opened at $79.92. Columbia Sportswear shares last traded at $82.79, with a volume of 13,520 shares trading hands.

Wall Street Analyst Weigh In

COLM has been the topic of several research reports. Stifel Nicolaus upgraded shares of Columbia Sportswear from a “hold” rating to a “buy” rating and increased their price target for the company from $84.00 to $92.00 in a research report on Monday, July 8th. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Columbia Sportswear in a report on Thursday, July 18th. Finally, StockNews.com lowered Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Columbia Sportswear has an average rating of “Hold” and an average price target of $77.00.

Columbia Sportswear Trading Up 1.0 %

The stock has a market capitalization of $4.99 billion, a PE ratio of 20.58, a PEG ratio of 3.00 and a beta of 0.92. The business’s 50-day moving average is $81.54 and its two-hundred day moving average is $80.66.

Columbia Sportswear (NASDAQ:COLM) last released its quarterly earnings results on Thursday, July 25th. The textile maker reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.14. The firm had revenue of $570.20 million during the quarter, compared to analysts’ expectations of $569.37 million. Columbia Sportswear had a return on equity of 13.01% and a net margin of 6.72%. Columbia Sportswear’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. On average, analysts predict that Columbia Sportswear will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in Columbia Sportswear by 116.6% during the second quarter. Blue Trust Inc. now owns 418 shares of the textile maker’s stock worth $34,000 after purchasing an additional 225 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 142 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Columbia Sportswear by 174.8% in the first quarter. Headlands Technologies LLC now owns 599 shares of the textile maker’s stock worth $49,000 after buying an additional 381 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of Columbia Sportswear in the first quarter worth approximately $64,000. Finally, Dnca Finance purchased a new position in shares of Columbia Sportswear in the second quarter worth approximately $68,000. 47.76% of the stock is currently owned by institutional investors.

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.