Columbia Sportswear Hits 52-Week High - Analyst Blog


Shares of Columbia Sportswear Company ( COLM ) 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.

Growth Drivers

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 ( CPA ), Argan, Inc. ( AGX ) and DST Systems Inc. ( DST ) achieved new 52-week highs of $158.50, $26.60 and $89.87, respectively, on Dec 13, 2013.

COLUMBIA SPORTS (COLM): Free Stock Analysis Report

COPA HLDGS SA-A (CPA): Free Stock Analysis Report

DST SYSTEMS (DST): Free Stock Analysis Report

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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Business , Stocks

Referenced Stocks: AGX , COLM , CPA , DST

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