Columbia Sportswear Receives a Buy from Canaccord Genuity

By Austin Angelo

Canaccord Genuity analyst Camilo Lyon reiterated a Buy rating on Columbia Sportswear (NASDAQ: COLM) today and set a price target of $70. The company’s shares opened today at $57.94.

According to TipRanks.com, Lyon is a 1-star analyst with an average return of -2.4% and a 40.9% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Sequential Brands, Deckers Outdoor, and Foot Locker Inc.

Currently, the analyst consensus on Columbia Sportswear is Moderate Buy and the average price target is $71, representing a 22.5% upside.

In a report released today, FBR Capital also reiterated a Buy rating on the stock with a $68 price target.

The company has a one year high of $66 and a one year low of $43.56. Currently, Columbia Sportswear has an average volume of 257.4K.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COLM in relation to earlier this year. Most recently, in August 2016, John W. Stanton, a a Director at COLM bought 6,628 shares for a total of $140,978.

Columbia Sportswear Co. designs, develops, markets and distributes active outdoor apparel, footwear, accessories and equipment under four primary brands: Columbia, Mountain Hardwear, Sorel, and Montrail. It operates through the following geographic segments: the United States; Latin America and Asia Pacific; Europe, Middle East, and Africa; and Canada. It develops and manages its merchandise in two principal categories: Apparel, Accessories and Equipment and Footwear. The Apparel, Accessories and Equipment category designs, develops, markets and distributes apparel, accessories and equipment for men, women and youth under the Columbia and Mountain Hardware brands. The Footwear category designs, develops, markets and distributes footwear products for men and women under the Columbia, Sorel and Montrail brands and for youth under its Columbia and Sorel brands. The company was founded by Paul Lamfrom and Marie Lamfrom in 1938 and is headquartered in Portland, OR.