Canada Goose (NYSE:GOOS) Given New $18.00 Price Target at TD Cowen

Key Points

• TD Cowen raised Canada Goose’s price target to $18 from $13 and maintained a “buy” rating, implying roughly 99% upside from the stock’s recent $9.04 price.
• Analyst sentiment remains mixed: Canada Goose has an overall “hold” rating and an average price target of $12.48, with ratings ranging from strong buy to strong sell.
• The company exceeded quarterly expectations, reporting revenue of $83.71 million—up 10.3% year over year—and an adjusted loss of $0.64 per share versus the $0.70 expected loss.

Canada Goose (NYSE:GOOS - Get Free Report) had its price objective raised by investment analysts at TD Cowen from $13.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price objective would indicate a potential upside of 99.12% from the stock's current price.

Several other equities analysts have also recently weighed in on GOOS. Zacks Research upgraded Canada Goose from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Wall Street Zen lowered Canada Goose from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Williams Trading cut Canada Goose from a "hold" rating to a "strong sell" rating in a research report on Friday, July 24th. Barclays decreased their price target on Canada Goose from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Friday, May 15th. Finally, Weiss Ratings lowered Canada Goose from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $12.48.

Canada Goose Stock Down 2.4%

Shares of GOOS stock traded down $0.22 during trading on Friday, reaching $9.04. The company's stock had a trading volume of 347,201 shares, compared to its average volume of 633,486. Canada Goose has a one year low of $8.75 and a one year high of $15.40. The business has a fifty day moving average price of $9.66 and a 200-day moving average price of $10.90. The company has a market cap of $878.15 million, a price-to-earnings ratio of 69.42 and a beta of 1.61. The company has a quick ratio of 1.58, a current ratio of 2.63 and a debt-to-equity ratio of 0.65.

Canada Goose (NYSE:GOOS - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.64) earnings per share for the quarter, beating analysts' consensus estimates of ($0.70) by $0.06. Canada Goose had a net margin of 1.42% and a return on equity of 14.60%. The business had revenue of $83.71 million during the quarter, compared to the consensus estimate of $76.34 million. During the same quarter last year, the firm earned $0.91 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts anticipate that Canada Goose will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On Canada Goose

A number of institutional investors and hedge funds have recently modified their holdings of GOOS. Northwestern Mutual Wealth Management Co. increased its position in Canada Goose by 15,788,723.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 36,630,070 shares of the company's stock worth $474,359,000 after buying an additional 36,629,838 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Canada Goose by 1,557.5% in the second quarter. Bank of America Corp DE now owns 1,265,898 shares of the company's stock valued at $14,165,000 after buying an additional 1,189,523 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of 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 acquiring an additional 877,987 shares during the period. CenterBook Partners LP bought a new position in shares of Canada Goose during the 4th quarter worth approximately $5,363,000. Finally, Millennium Management LLC increased its holdings in shares of Canada Goose by 279.8% during the 4th quarter. Millennium Management LLC now owns 548,919 shares of the company's stock worth $7,109,000 after acquiring an additional 404,374 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

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.

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