Canaccord Genuity Cuts PT on Columbia Sportswear (COLM) After Q4 Warning
Get Alerts COLM Hot Sheet
Price: $75.93 +0.52%
Rating Summary:
7 Buy, 21 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
7 Buy, 21 Hold, 3 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Canaccord Genuity cut its price target on Hold-rated Columbia Sportswear (NASDAQ: COLM) from $50 to $48 after the negative Q4 pre- announcement.
The firm comments, "The company is now anticipating Q4 sales to be down 5%, from +1.5% previously, with further gross margin compression. As such, we are lowering our Q4 EPS estimate to $1.11 from $1.27. While we have been cautious on the stock
due to heightened levels of markdown at retail, sell-through was clearly worse than we had expected. Given the late arrival of winter weather, we believe outerwear inventory will carry over into 1H13 and likely compress gross margins further."
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 $50.80 yesterday.
The firm comments, "The company is now anticipating Q4 sales to be down 5%, from +1.5% previously, with further gross margin compression. As such, we are lowering our Q4 EPS estimate to $1.11 from $1.27. While we have been cautious on the stock
due to heightened levels of markdown at retail, sell-through was clearly worse than we had expected. Given the late arrival of winter weather, we believe outerwear inventory will carry over into 1H13 and likely compress gross margins further."
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 $50.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- QuantumScape (QS) PT Lowered to $6 at Truist Securities
- Uber Inc. (UBER) PT Raised to $96 at Tigress Financial Partners
- Alpine Income Property Trust (PINE) PT Lowered to $18 at Jones Trading
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Canaccord GenuitySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!