Canada Goose (NYSE:GOOS) Raised to Strong-Buy at Zacks Research

Canada Goose (NYSE:GOOS) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also weighed in on GOOS. Evercore set a $10.00 target price on shares of Canada Goose in a research note on Friday, May 15th. Williams Trading raised Canada Goose from a “strong sell” rating to a “hold” rating in a research note on Sunday, May 17th. Wall Street Zen upgraded Canada Goose from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Barclays reduced their price objective on Canada Goose from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Finally, Robert W. Baird set a $11.66 price objective on Canada Goose in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.53.

Canada Goose Stock Performance

Shares of GOOS opened at $9.73 on Tuesday. The firm has a market cap of $945.66 million, a P/E ratio of 74.88 and a beta of 1.61. Canada Goose has a twelve month low of $9.16 and a twelve month high of $15.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.58 and a current ratio of 2.63. The firm’s 50 day moving average price is $9.72 and its two-hundred day moving average price is $11.09.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in Canada Goose by 15,788,723.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 36,630,070 shares of the company’s stock valued at $474,359,000 after buying an additional 36,629,838 shares during the last quarter. Marshall Wace LLP lifted its position in Canada Goose by 132.5% during the 4th quarter. Marshall Wace LLP now owns 1,540,714 shares of the company’s stock worth $19,952,000 after buying an additional 877,987 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Canada Goose by 1,557.5% during the 2nd quarter. Bank of America Corp DE now owns 1,265,898 shares of the company’s stock worth $14,165,000 after buying an additional 1,189,523 shares during the last quarter. Kessler Investment Group LLC boosted its stake in shares of Canada Goose by 126.8% during the 4th quarter. Kessler Investment Group LLC now owns 678,892 shares of the company’s stock worth $8,792,000 after buying an additional 379,516 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Canada Goose by 21.2% in the 4th quarter. Pinnacle Associates Ltd. now owns 581,879 shares of the company’s stock valued at $7,535,000 after acquiring an additional 101,665 shares in the last quarter. Institutional investors and hedge funds 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.