Canada Goose (NYSE:GOOS) Shares Gap Up Following Analyst Upgrade

Shares of Canada Goose Holdings Inc. (NYSE:GOOS) gapped up prior to trading on Tuesday after Robert W. Baird upgraded the stock from a neutral rating to an outperform rating. The stock had previously closed at $11.79, but opened at $12.45. Canada Goose shares last traded at $12.82, with a volume of 336,694 shares trading hands.

Several other equities analysts also recently commented on GOOS. Barclays decreased their price target on shares of Canada Goose from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. The Goldman Sachs Group increased their price objective on shares of Canada Goose from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Thursday, May 22nd. Evercore ISI set a $11.00 price objective on shares of Canada Goose and gave the stock an “in-line” rating in a research note on Thursday, May 22nd. Cowen reiterated a “hold” rating on shares of Canada Goose in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Canada Goose from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Canada Goose has a consensus rating of “Hold” and an average price target of $11.00.

Institutional Investors Weigh In On Canada Goose

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Canada Goose by 0.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,363,960 shares of the company’s stock valued at $42,643,000 after purchasing an additional 39,012 shares in the last quarter. Patient Capital Management LLC boosted its stake in shares of Canada Goose by 3.4% in the 4th quarter. Patient Capital Management LLC now owns 3,854,520 shares of the company’s stock valued at $38,661,000 after purchasing an additional 128,133 shares in the last quarter. Timucuan Asset Management Inc. FL boosted its stake in shares of Canada Goose by 10.8% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 1,948,240 shares of the company’s stock valued at $15,489,000 after purchasing an additional 189,715 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Canada Goose by 1,557.5% in the 2nd quarter. Bank of America Corp DE now owns 1,265,898 shares of the company’s stock valued at $14,165,000 after purchasing an additional 1,189,523 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Canada Goose by 115.3% in the 2nd quarter. Marshall Wace LLP now owns 1,120,956 shares of the company’s stock valued at $12,543,000 after purchasing an additional 600,242 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Canada Goose Trading Up 3.3%

The business’s 50 day moving average price is $12.25 and its two-hundred day moving average price is $10.41. The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 0.88 and a beta of 1.45.

Canada Goose (NYSE:GOOS) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.04). Canada Goose had a net margin of 3.48% and a return on equity of 19.85%. The company had revenue of $77.91 million during the quarter, compared to analyst estimates of $68.33 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, equities analysts predict that Canada Goose Holdings Inc. will post 0.7 earnings per share for the current fiscal year.

About Canada Goose

Canada Goose Holdings Inc, together with its subsidiaries, designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other.