What Next for Columbia Sportswear Company (COLM) After Forming Bullish Wedge Up Chart Pattern?

December 7, 2017 - By Vivian Currie

Investors sentiment increased to 0.97 in Q2 2017. Its up 0.11, from 0.86 in 2017Q1. It increased, as 21 investors sold Columbia Sportswear Company shares while 52 reduced holdings. 20 funds opened positions while 51 raised stakes. 26.55 million shares or 0.81% less from 26.77 million shares in 2017Q1 were reported.
Tudor Investment Et Al holds 0.01% or 4,047 shares in its portfolio. Geode Cap Mngmt Limited Co accumulated 269,171 shares or 0.01% of the stock. Aperio Lc reported 0% in Columbia Sportswear Company (NASDAQ:COLM). Citigroup Inc has invested 0% in Columbia Sportswear Company (NASDAQ:COLM). Us Natl Bank De reported 3,564 shares. Jpmorgan Chase Communication owns 1.64 million shares for 0.02% of their portfolio. Pinnacle Fincl Prtn holds 0% in Columbia Sportswear Company (NASDAQ:COLM) or 201 shares. Thompson Rubinstein Investment Management Or has invested 0.14% in Columbia Sportswear Company (NASDAQ:COLM). Deutsche National Bank Ag, a Germany-based fund reported 120,042 shares. Wells Fargo And Mn holds 0% or 130,679 shares in its portfolio. Clinton Grp Inc owns 4,524 shares for 0.03% of their portfolio. Principal Fincl Group, Iowa-based fund reported 3,757 shares. Renaissance Technology Limited Liability Corp owns 99,902 shares or 0.01% of their US portfolio. Blackrock Incorporated accumulated 1.73 million shares or 0.01% of the stock. Morgan Stanley has 0% invested in Columbia Sportswear Company (NASDAQ:COLM) for 35,247 shares.

The stock of Columbia Sportswear Company (COLM) formed an up wedge with $74.45 target or 7.00 % above today’s $69.58 share price. The 5 months wedge indicates low risk for the $4.86 billion company. If the $74.45 price target is reached, the company will be worth $340.34 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.01% or $0.01 during the last trading session, reaching $69.58. About 103,757 shares traded. Columbia Sportswear Company (NASDAQ:COLM) has risen 0.63% since December 8, 2016 and is uptrending. It has underperformed by 16.07% the S&P500.

Analysts await Columbia Sportswear Company (NASDAQ:COLM) to report earnings on February, 8. They expect $1.11 EPS, down 7.50 % or $0.09 from last year’s $1.2 per share. COLM’s profit will be $77.56M for 15.67 P/E if the $1.11 EPS becomes a reality. After $1.25 actual EPS reported by Columbia Sportswear Company for the previous quarter, Wall Street now forecasts -11.20 % negative EPS growth.

Columbia Sportswear Company (NASDAQ:COLM) Ratings Coverage

Among 19 analysts covering Columbia Sportswear Company (NASDAQ:COLM), 9 have Buy rating, 0 Sell and 10 Hold. Therefore 47% are positive. Columbia Sportswear Company had 44 analyst reports since August 3, 2015 according to SRatingsIntel. As per Thursday, September 22, the company rating was initiated by KeyBanc Capital Markets. Stifel Nicolaus maintained it with “Hold” rating and $60.0 target in Tuesday, October 3 report. The rating was maintained by Stifel Nicolaus with “Buy” on Friday, February 12. The stock has “Hold” rating by Brean Capital on Monday, July 17. On Friday, September 11 the stock rating was initiated by BB&T Capital with “Buy”. Canaccord Genuity maintained Columbia Sportswear Company (NASDAQ:COLM) rating on Tuesday, July 25. Canaccord Genuity has “Hold” rating and $6000 target. Buckingham Research initiated the shares of COLM in report on Thursday, October 20 with “Neutral” rating. The firm has “Buy” rating given on Friday, September 30 by Guggenheim. Cowen & Co maintained the stock with “Hold” rating in Wednesday, September 27 report. As per Monday, August 21, the company rating was maintained by Cowen & Co.

More notable recent Columbia Sportswear Company (NASDAQ:COLM) news were published by: Nasdaq.com which released: “Columbia Sportswear Company (COLM) Ex-Dividend Date Scheduled for November 15 …” on November 14, 2017, also Nasdaq.com with their article: “Columbia Sportswear Rides on Strong International Sales” published on December 05, 2017, Oregonlive.com published: “Ex-Columbia Sportswear exec who hacked emails ordered to help elderly with …” on December 07, 2017. More interesting news about Columbia Sportswear Company (NASDAQ:COLM) were released by: Oregonlive.com and their article: “Columbia Sportswear closes downtown store Saturday as protesters gather” published on December 02, 2017 as well as Oregonlive.com‘s news article titled: “Tim Boyle of Columbia Sportswear: Businesses can do more on homelessness” with publication date: December 05, 2017.

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