Canada Goose (NYSE:GOOS) Upgraded to Buy by Zacks Investment Research

Canada Goose (NYSE:GOOS – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $22.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 19.24% from the company’s current price.

According to Zacks, “Canada Goose is a global outerwear brand. Canada Goose is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. The Company’s jackets are sold in 36 countries around the world, including in two owned retail stores and four e-commerce stores. “

Other equities research analysts also recently issued reports about the stock. Veritas Investment Research upgraded shares of Canada Goose from a “reduce” rating to a “buy” rating in a report on Monday, February 14th. TD Securities lifted their price target on shares of Canada Goose from C$49.00 to C$54.00 in a report on Friday. OTR Global downgraded shares of Canada Goose from a “mixed” rating to a “negative” rating in a report on Friday, April 22nd. Cowen lowered their target price on shares of Canada Goose from $37.00 to $30.00 in a report on Friday. Finally, Barclays lowered their target price on shares of Canada Goose from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $36.82.

GOOS traded down $1.13 during midday trading on Tuesday, reaching $18.45. 1,405,594 shares of the company’s stock were exchanged, compared to its average volume of 1,412,789. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.36 and a quick ratio of 1.42. The stock has a market capitalization of $1.97 billion, a PE ratio of 26.74, a P/E/G ratio of 0.48 and a beta of 1.62. The business’s 50-day moving average price is $23.19 and its 200 day moving average price is $30.85. Canada Goose has a 1-year low of $17.91 and a 1-year high of $53.64.

Canada Goose (NYSE:GOOS – Get Rating) last announced its earnings results on Thursday, May 19th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $223.46 million. Canada Goose had a net margin of 8.52% and a return on equity of 24.35%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 earnings per share. As a group, analysts expect that Canada Goose will post 1.34 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its position in shares of Canada Goose by 15.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,408 shares of the company’s stock worth $89,000 after purchasing an additional 329 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Canada Goose during the fourth quarter worth $95,000. HM Payson & Co. lifted its position in shares of Canada Goose by 105.3% during the first quarter. HM Payson & Co. now owns 3,900 shares of the company’s stock worth $103,000 after purchasing an additional 2,000 shares in the last quarter. Kistler Tiffany Companies LLC lifted its position in shares of Canada Goose by 86.6% during the first quarter. Kistler Tiffany Companies LLC now owns 5,162 shares of the company’s stock worth $136,000 after purchasing an additional 2,395 shares in the last quarter. Finally, ARK Investment Management LLC acquired a new position in shares of Canada Goose during the fourth quarter worth $195,000. 42.99% of the stock is currently owned by institutional investors and hedge funds.

Canada Goose Company Profile (Get Rating)

Canada Goose Holdings Inc designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia, Europe, and internationally. It operates through three segments: Direct-to-Consumer, Wholesale, and Other. The company offers parkas, lightweight down jackets, rainwear, windwear, knitwear, footwear, and accessories for fall, winter, and spring seasons.

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