After Wedbush and Citigroup gave Columbia Sportswear (NASDAQ: COLM) a Buy rating last month, the company received another Buy, this time from Pivotal Research. Analyst Mitch Kummetz reiterated a Buy rating on Columbia Sportswear today and set a price target of $117. The company’s shares closed yesterday at $101.90.
Kummetz said:
“We view 1Q as a quarter, at least on the wholesale side of the ledger, driven by the sell-in of COLM’s spring orders, and, to this extent, COLM had good visibility going into it the quarter. To a lesser extent, 1Q is also a quarter, in wholesale, that is driven by some winter replenishment sales in January and February, and we suspect these reorders have exceeded COLM’s plan, given cold weather over this period. Additionally, with regard to COLM’s direct channel, it’s best when the quarter comes in like a lion and out like a lamb, and that’s close to what happened for 1Q, which likely drove demand for cold-weather product early and warmer-weather product late in the quarter.”
According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 6.0% and a 61.6% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Columbia Sportswear with a $115.13 average price target, implying a 13.0% upside from current levels. In a report issued on April 15, Citigroup also initiated coverage with a Buy rating on the stock.
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Columbia Sportswear’s market cap is currently $6.95B and has a P/E ratio of 26.61. The company has a Price to Book ratio of 4.15.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. Last month, Edward S. George, a Director at COLM sold 5,630 shares for a total of $592,220.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Columbia Sportswear Co. engages in the design, source, market, and distribute outdoor and active lifestyle apparel, footwear, accessories, and equipment. It operates through the following geographical segments: the United States; Latin America and Asia Pacific; Europe, Middle East, and Africa; and Canada.
