Auriga Maintains a 'Hold' on Columbia Sportswear (COLM); Cutting FY Estimates on Weakening Trends

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

Analyst, Claire Gallacher, said, "We are maintaining our rating on COLM given the challenging market trends the company faces for the important upcoming fall/holiday period. We estimate COLM's 2H sales will be flat, even with many retailers planning open to buy dollars down in the 10-20% range. If retailers appear to be in better health during the fall/holiday season, and there is potential for upside to estimates, we will reevaluate our rating. Maintain Hold and $48 PT. EPS of $0.11 better than expectations. COLM reported upside to Q1, fueled by better than expected SG&A savings. EPS of $0.11 compares with $0.37 in the prior year and was $0.03 better than our estimate. Sales were flat; slightly worse than we anticipated. COLM reported flat sales during Q1, at $333mm. Unseasonably warm weather this spring led to continued softness in outerwear and footwear for COLM."

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 $49.84 yesterday.

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