Columbia Sportswear Company (NASDAQ:COLM) currently trades at $54.16 which is about -1.63% lower than the 52-week high of $63.55. The trading volume at ready counter moved to 810,055.00 shares as compared to 299,598.00 shares average traded volume. The stock failed to get pushed above the $54.31 barrier, the intraday high, after opening at $53.26. Analysts have a consensus target price of $64.82 in the 12-month period. Its market capitalization has now reached to $3.75B.
Columbia Sportswear Company (NASDAQ:COLM) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus buy rating, according to Zacks Investment Research. 1 analyst has rated the stock with a sell rating, 6 have assigned a hold rating, 1 says it’s a buy and 8 have assigned a strong buy rating to the company.
Columbia Sportswear Company (COLM) on October 28, 2016 announced third quarter net sales of $745.7 million for the quarter ended September 30, 2016, a 3 percent decrease compared with net sales of $767.6 million for the third quarter of 2015. Third quarter 2016 net income totaled $83.6 million, or $1.18 per diluted share, compared to third quarter 2015 net income of $91.1 million, or $1.28 per diluted share. The combined effects of a shift in timing of shipments of U.S. wholesale advance orders and bankruptcies of certain U.S. wholesale customers during 2016 had a negative effect on comparative third quarter results.
Through the first nine months of 2016, net sales increased $32.8 million, or 2 percent (3 percent constant-currency), to a record $1,659.6 million, compared to $1,626.8 million in the comparable 2015 period. Year-to-date net income decreased 3 percent, to $107.2 million, or $1.52 per diluted share, compared with net income of $111.0 million, or $1.56 per diluted share, for the comparable 2015 period.
Chief Executive Officer Tim Boyle commented, “During the third quarter, our go-to-market and operational teams around the world continued to execute well against a challenging consumer environment, setting the stage across the global retail landscape with innovative, trend-right Fall season products supported by compelling brand marketing campaigns. The Columbia, prAna and SOREL brands drove mid-teen percentage growth in our North American direct-to-consumer channel, high-20-percent growth in Europe-direct markets and high-single-digit percentage growth in China, helping to partially offset the negative effects of bankruptcies and cautious inventory management by North American wholesale customers, as well as continued challenges in Russia and Korea.”
Boyle concluded, “Our expanded direct-to-consumer businesses, enhanced supply chain, strong balance sheet and proven disciplined expense management enable us to drive profitability over the long run, while making strategic investments to drive demand for our brands and enhance our operations.”