Canaccord Genuity Cuts PT on Columbia Sportswear (COLM); Challenging Weather Impacts '12 Outlook
COLM Hot Sheet
Rating Summary:2 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Canaccord Genuity maintains a 'Hold' on Columbia Sportswear (NASDAQ: COLM) price target lowered from $55 to $50.
Analyst, Camilo Lyon, said, "While Q4 EPS of $1.08 came in slightly ahead of our $1.06, sales missed by $13.5M as warmer weather in the US and Europe hurt sell-through, resulting in order cancellations by retailers. In addition, further conservatism by retailers with respect to orders resulted in tepid 2012 sales and earnings guidance of low single digits. With little room to improve on this outlook due to excess inventory that needs to be cleared through, we maintain our rating and are lowering our PT."
For an analyst ratings summary and ratings history on Columbia Sportswear click here. For more ratings news on Columbia Sportswear click here.
Shares of Columbia Sportswear closed at $47.90 yesterday, with a 52 week range of $41.13-$70.64.
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Analyst, Camilo Lyon, said, "While Q4 EPS of $1.08 came in slightly ahead of our $1.06, sales missed by $13.5M as warmer weather in the US and Europe hurt sell-through, resulting in order cancellations by retailers. In addition, further conservatism by retailers with respect to orders resulted in tepid 2012 sales and earnings guidance of low single digits. With little room to improve on this outlook due to excess inventory that needs to be cleared through, we maintain our rating and are lowering our PT."
For an analyst ratings summary and ratings history on Columbia Sportswear click here. For more ratings news on Columbia Sportswear click here.
Shares of Columbia Sportswear closed at $47.90 yesterday, with a 52 week range of $41.13-$70.64.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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