Auriga Maintains a 'Hold' on Columbia Sportswear (COLM); Cutting Q4 & FY12 Estimates Ahead of Report

Auriga maintains a 'Hold' on Columbia Sportswear (NASDAQ: COLM) price target of $48.00.

Auriga analyst says, "We are lowering our Q4 and 2012 EPS estimates ahead of COLM's Q4 earnings report, scheduled for Thursday February 2 after the close. Due to an unseasonably warm Q4 (and a mild Q1), we expect weaker than expected outerwear sales, leading to higher order cancellations and lower direct to consumer sales. We expect excess inventory to be sold through the company's outlet stores in 1H12, adversely affecting gross margins. COLM currently is taking orders for fall 2012; if retailers believe they are currently sitting on too much outerwear, orders for the next season could be weak. We currently anticipate fall bookings of +10%, however if booking are +8% we believe there is $0.05-0.06 downside to our 2012 EPS estimate of $3.32."

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 $46.01 yesterday.

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