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

Key Points

• Zacks Research upgraded Canada Goose from “hold” to “strong-buy,” adding to a mixed but generally cautious analyst view on the stock.
• The broader analyst consensus remains “Hold”, with a consensus price target of $12.53 and recent targets from firms like Evercore and Baird around $10 to $11.66.
• Canada Goose recently reported revenue above estimates at $325.9 million, but EPS missed expectations; the stock was trading around $9.73, near its 52-week low.

Canada Goose (NYSE:GOOS - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on GOOS. Evercore set a $10.00 target price on Canada Goose in a research note on Friday, May 15th. Robert W. Baird set a $11.66 price target on shares of Canada Goose in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Canada Goose from a "hold" rating to a "buy" rating in a report on Sunday, May 24th. Weiss Ratings raised shares of Canada Goose from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Finally, Williams Trading upgraded shares of Canada Goose from a "strong sell" rating to a "hold" rating in a research note on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Canada Goose currently has an average rating of "Hold" and a consensus price target of $12.53.

Canada Goose Stock Down 0.1%

Shares of NYSE GOOS opened at $9.73 on Tuesday. Canada Goose has a 12-month low of $9.16 and a 12-month high of $15.43. The stock's fifty day simple moving average is $9.72 and its two-hundred day simple moving average is $11.09. The stock has a market capitalization of $945.66 million, a PE ratio of 74.88 and a beta of 1.61. The company has a current ratio of 2.63, a quick ratio of 1.58 and a debt-to-equity ratio of 0.65.

Canada Goose (NYSE:GOOS - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The company had revenue of $325.89 million during the quarter, compared to the consensus estimate of $295.79 million. Canada Goose had a return on equity of 14.60% and a net margin of 1.42%.The company's revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, analysts expect that Canada Goose will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOOS. Caitong International Asset Management Co. Ltd purchased a new stake in Canada Goose in the fourth quarter valued at about $27,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Canada Goose during the third quarter worth about $45,000. US Bancorp DE acquired a new position in shares of Canada Goose during the third quarter valued at about $83,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Canada Goose by 30.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 8,035 shares of the company's stock valued at $105,000 after acquiring an additional 1,893 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Canada Goose in the 4th quarter valued at approximately $138,000. 83.64% of the stock is currently owned by hedge funds and other 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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