Canaccord Genuity Maintains a 'Hold' on Columbia Sportswear (COLM); Expects Inventory Rightsize By Year-End
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Price: $61.70 +2.00%
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
1 Buy, 9 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade COLM Now!
Canaccord Genuity maintains a 'Hold' on Columbia Sportswear (NASDAQ: COLM) price target of $50.00.
Analyst, Camilo Lyon, said, "COLM’s Q2 EPS results of $(0.23) beat our $(0.30) estimate largely due to 70bps less gross margin degradation and an SG&A dollar decline of 1%, which drove 432bps of leverage. A lower tax rate (26% vs. 40% estimate) also helped results. Sales were modestly better by $2M vs. our $280M estimate. While we continue to be impressed by COLM’s expense control and believe the company has unique and innovative technologies to monetize in the coming years, sales visibility remains clouded through the balance of the year, European macro concerns persist, and carryover winter inventory remains to be worked down."
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 $52.38 yesterday, with a 52 week range of $41.13-$62.80.
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Analyst, Camilo Lyon, said, "COLM’s Q2 EPS results of $(0.23) beat our $(0.30) estimate largely due to 70bps less gross margin degradation and an SG&A dollar decline of 1%, which drove 432bps of leverage. A lower tax rate (26% vs. 40% estimate) also helped results. Sales were modestly better by $2M vs. our $280M estimate. While we continue to be impressed by COLM’s expense control and believe the company has unique and innovative technologies to monetize in the coming years, sales visibility remains clouded through the balance of the year, European macro concerns persist, and carryover winter inventory remains to be worked down."
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 $52.38 yesterday, with a 52 week range of $41.13-$62.80.
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TimmyJ on Jul 31, 2012 06:13 PMMark as Spam | Reply to this comment
This all makes sense, no retail clothing should have lofty figures for June and I for one belive they should predict a loss and everyone should be fine with that http://www.bizjournals.com/portland/stories/2006/03/13/daily5.html