Columbia Sportswear (COLM) Strength Should Extend Into Spring - Macquarie

Macquarie analyst, Laurent Vasilescu, reiterated his Outperform rating on shares of Columbia Sportswear (NASDAQ: COLM) and raised his price target to $118 from $106 after the company delivered a 4Q18 beat with revs of $899MM vs consensus of $848MM and adj. EPS of $1.68 vs consensus of $1.28. 4Q18 revs were up 17% on a constant currency basis driven by U.S sales up 20% and strong double digit growth in all regions.

The analyst thinks this strength will continue into the Spring stating "this management team has a history of controlling their inventory tightly, so with inventories up 20% driven by earlier receipts of spring 2019 product we believe 1Q19 rev guide of up mid-singles and FY19 rev guide of up 6-8% could prove conservative. We are modelling 6.8% growth in 1Q19 and 7.9% growth for FY19 with potential upside".

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 $101.11 yesterday.

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