Canada Goose (NYSE:GOOS) Sees Strong Trading Volume – Still a Buy?

Canada Goose Holdings Inc. (NYSE:GOOS) saw unusually-strong trading volume on Friday . Approximately 357,840 shares changed hands during mid-day trading, a decline of 42% from the previous session’s volume of 621,219 shares.The stock last traded at $8.8520 and had previously closed at $9.17.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOOS shares. Weiss Ratings raised shares of Canada Goose from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Canada Goose from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird set a $11.66 price target on shares of Canada Goose in a report on Friday, May 15th. Williams Trading downgraded shares of Canada Goose from a “hold” rating to a “strong sell” rating in a research report on Friday. Finally, Barclays decreased their price objective on shares of Canada Goose from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.53.

Canada Goose Price Performance

The company has a current ratio of 2.63, a quick ratio of 1.58 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $9.69 and a 200 day simple moving average of $11.04. The stock has a market capitalization of $863.38 million, a price-to-earnings ratio of 68.37 and a beta of 1.61.

Canada Goose (NYSE:GOOS) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The company had revenue of $325.89 million during the quarter, compared to analysts’ expectations of $295.79 million. Canada Goose had a return on equity of 14.60% and a net margin of 1.42%.Canada Goose’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.33 earnings per share. On average, equities research analysts forecast that Canada Goose Holdings Inc. will post 0.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Canada Goose

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kessler Investment Group LLC increased its stake in shares of Canada Goose by 126.8% in the fourth quarter. Kessler Investment Group LLC now owns 678,892 shares of the company’s stock worth $8,792,000 after acquiring an additional 379,516 shares during the last quarter. Simcoe Capital LLC acquired a new stake in Canada Goose during the fourth quarter valued at $2,649,000. CenterBook Partners LP acquired a new stake in Canada Goose during the fourth quarter valued at $5,363,000. Northwestern Mutual Wealth Management Co. grew its stake in Canada Goose by 15,788,723.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 36,630,070 shares of the company’s stock valued at $474,359,000 after purchasing an additional 36,629,838 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Canada Goose by 21.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 581,879 shares of the company’s stock valued at $7,535,000 after purchasing an additional 101,665 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

About Canada Goose

Canada Goose Holdings Inc, traded on the NYSE under the symbol GOOS, is a Canadian design and manufacturing company specializing in premium outerwear. The firm is best known for its down-filled jackets and parkas, engineered to deliver high performance in extreme cold weather. Over time, Canada Goose has expanded its product range to include knitwear, fleece, footwear, and accessories, all designed with an emphasis on technical innovation, quality craftsmanship, and functional style.

Founded in 1957 as Metro Sportswear Ltd.