Could Columbia Sportswear Company (COLM) Change Direction After This 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.
Metropolitan Life Insur Com New York holds 19,361 shares or 0.01% of its portfolio. Gotham Asset Ltd stated it has 61,005 shares. Millennium Mngmt Ltd reported 14,556 shares or 0% of all its holdings. Northwest Invest Counselors Ltd holds 0% or 100 shares in its portfolio. Eagle Asset Management holds 0.05% or 130,089 shares. Bnp Paribas Asset Mngmt Hldgs Sa accumulated 187,564 shares or 0.1% of the stock. Sei Invests reported 0.01% of its portfolio in Columbia Sportswear Company (NASDAQ:COLM). Tennessee-based Ftb Advsr has invested 0% in Columbia Sportswear Company (NASDAQ:COLM). Edge Wealth Mngmt invested 0% of its portfolio in Columbia Sportswear Company (NASDAQ:COLM). Guggenheim Limited Liability Corp owns 15,611 shares or 0% of their US portfolio. Credit Suisse Ag invested in 0% or 32,549 shares. Dupont Cap Mngmt Corporation holds 0.01% or 8,114 shares. Raymond James has invested 0% in Columbia Sportswear Company (NASDAQ:COLM). Moreover, Deprince Race Zollo Inc has 0.53% invested in Columbia Sportswear Company (NASDAQ:COLM). California Employees Retirement System reported 70,800 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 $77.56 million 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. The stock of Columbia Sportswear Company (NASDAQ:COLM) earned “Hold” rating by Brean Capital on Monday, July 17. Stifel Nicolaus maintained Columbia Sportswear Company (NASDAQ:COLM) on Friday, February 12 with “Buy” rating. Macquarie Research upgraded the shares of COLM in report on Tuesday, October 27 to “Neutral” rating. The rating was maintained by FBR Capital with “Outperform” on Friday, July 29. As per Friday, July 31, the company rating was maintained by FBR Capital. The firm earned “Sector Weight” rating on Thursday, September 22 by KeyBanc Capital Markets. The rating was maintained by Cowen & Co with “Hold” on Wednesday, July 19. On Friday, October 27 the stock rating was maintained by Stifel Nicolaus with “Hold”. The firm earned “Buy” rating on Friday, September 30 by Guggenheim. As per Friday, December 18, the company rating was upgraded by Stifel Nicolaus.

More notable recent Columbia Sportswear Company (NASDAQ:COLM) news were published by: Oregonlive.com which released: “Tim Boyle of Columbia Sportswear: Businesses can do more on homelessness” on December 05, 2017, also Nasdaq.com with their article: “Why Is Columbia Sportswear (COLM) Up 6.4% Since the Last Earnings Report?” published on November 28, 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: Nasdaq.com and their article: “Columbia Sportswear Company (COLM) Ex-Dividend Date Scheduled for November 15 …” published on November 14, 2017 as well as Bizjournals.com‘s news article titled: “Columbia’s Tim Boyle takes on Trump, Bannon and ‘America First’ in OHSU address” with publication date: November 15, 2017.

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