Columbia Sportswear Company
) reached a new 52-week high of $70.89 on Dec 13, 2013, but
eventually closed at $70.61, up 1.1%. Apart from
better-than-expected third quarter 2013 results, the stock has
been performing well on the back of the company's focus on
expansion plans. Notably, this sportswear retailer has amassed a
year-to-date return of 34.8%.
The average volume of shares traded over the last 3 months was
approximately 57.6K. Moreover, the company currently trades at a
forward P/E of 26.52x, an 18.2% premium to the peer group average
of 22.44x. The last traded price is 17.4% above the Zacks
Consensus average analyst price target of $60.17.
Investors are optimistic about this stock as its third-quarter
earnings per share of $1.57 beat the Zacks Consensus Estimate of
$1.43 by 9.8%. This leading apparel and footwear designer
reported net sales of $523.1, beating the Zacks Consensus
Estimate of $513 million.
Moreover, during the third quarter of 2013, this Zacks Rank #3
(Hold) company declared a 14% hike in dividend to 25 cents from
22 cents a share
Further, the company expects to perform better, banking on its
recent Chinese joint venture, its wholesale business augmentation
in North America and Europe and its plans to expand operations in
the main global markets. Columbia Sportswear is also making
significant efforts to enhance its direct-to-consumer sales.
Its attention on expanding business is well evident from its
recent move of forming a distribution agreement with the New
Delhi-based Chogori India Retail Ltd. As per the agreement,
Chogori will serve as the sole distributor of Columbia's brands
in India. This is likely to strengthen its foothold in the
growing Indian market and benefit the company.
Other Stocks to Consider
Apart from this Oregon based retailer, stocks such as
Copa Holdings SA
DST Systems Inc.
) achieved new 52-week highs of $158.50, $26.60 and $89.87,
respectively, on Dec 13, 2013.
COLUMBIA SPORTS (COLM): Free Stock Analysis
COPA HLDGS SA-A (CPA): Free Stock Analysis
DST SYSTEMS (DST): Free Stock Analysis Report
To read this article on Zacks.com click here.