Paired Trade: Columbia Sportswear vs. Under Armour

This is the third in a series of recommendations ( MetPro vs. Nalco (MPR) vs. (NLC), Allergan vs. Johnson & Johnson (AGN) vs. (JNJ)), and I actually addressed these two companies last year. While Under Armour (UA) cratered relative to Columbia Sportswear (COLM), it has surged back to about the same relative price level since the two companies recently reported. When I looked at UA a year ago, I saw a very expensive stock and used COLM as an example of a much cheaper albeit less "exciting" company. Now, my relative interest in the two is that I see COLM as dirt cheap. I recently added it to my Top 20 Model Portfolio and increased the position in the Conservative Growth/Balanced Model Portfolio after it reported Q1 EPS and added it late this week to my own holdings. Here are the numbers: