Needham analyst Tom Nikic has maintained their neutral stance on COLM stock, giving a Hold rating today.
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Tom Nikic has given his Hold rating due to a combination of factors surrounding Columbia Sportswear’s recent performance and future outlook. The company’s third-quarter results were mixed, with revenue growth slightly surpassing expectations, yet earnings per share (EPS) were impacted by an impairment charge. This charge has led to a downward revision in the full-year EPS forecast, indicating potential challenges ahead.
Additionally, the company’s outlook for the fourth quarter is cautious, with anticipated revenue declines and EPS projections falling short of market expectations. The unpredictability of weather conditions, which significantly influences the company’s performance, adds another layer of uncertainty. These elements contribute to the decision to maintain a Hold rating, as the stock’s future trajectory remains uncertain amidst these mixed signals.
In another report released today, Barclays also maintained a Hold rating on the stock with a $51.00 price target.