Canada Goose (NYSE:GOOS) Rating Increased to Strong-Buy at Baird R W

Key Points

• Canada Goose has been upgraded by Baird R W from a "hold" rating to a "strong-buy" rating, indicating increased analyst confidence in the company's stock.
• Other firms, including Wells Fargo and Goldman Sachs, have also recently adjusted their ratings and price targets for Canada Goose, contributing to a consensus rating of "Hold" with a price target of $11.00.
• Despite a revenue beat of $77.91 million in its latest quarterly earnings, Canada Goose reported a loss of ($0.66) EPS, missing analyst estimates, which adds some caution to investor sentiment.

Canada Goose (NYSE:GOOS - Get Free Report) was upgraded by analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also issued reports on GOOS. Wells Fargo & Company raised Canada Goose from an "equal weight" rating to an "overweight" rating in a research report on Friday, August 1st. The Goldman Sachs Group increased their price target on Canada Goose from $8.00 to $9.00 and gave the company a "sell" rating in a research report on Thursday, May 22nd. Evercore ISI set a $11.00 price objective on Canada Goose and gave the company an "in-line" rating in a report on Thursday, May 22nd. Wall Street Zen downgraded Canada Goose from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Barclays dropped their price objective on Canada Goose from $14.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Canada Goose presently has a consensus rating of "Hold" and a consensus price target of $11.00.

Canada Goose Price Performance

GOOS stock opened at $12.18 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.02 and a quick ratio of 0.89. The firm has a market capitalization of $1.18 billion, a P/E ratio of 35.81, a P/E/G ratio of 0.88 and a beta of 1.45. The business's 50-day moving average is $12.25 and its two-hundred day moving average is $10.41. Canada Goose has a 1 year low of $6.73 and a 1 year high of $15.43.

Canada Goose (NYSE:GOOS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.04). The company had revenue of $77.91 million during the quarter, compared to analyst estimates of $68.33 million. Canada Goose had a net margin of 3.48% and a return on equity of 19.85%. During the same period in the prior year, the business earned $0.78 EPS. Analysts anticipate that Canada Goose will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in Canada Goose by 0.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,363,960 shares of the company's stock worth $42,643,000 after buying an additional 39,012 shares during the last quarter. Patient Capital Management LLC grew its stake in Canada Goose by 3.4% during the 4th quarter. Patient Capital Management LLC now owns 3,854,520 shares of the company's stock worth $38,661,000 after buying an additional 128,133 shares during the last quarter. Timucuan Asset Management Inc. FL grew its stake in Canada Goose by 10.8% during the 1st quarter. Timucuan Asset Management Inc. FL now owns 1,948,240 shares of the company's stock worth $15,489,000 after buying an additional 189,715 shares during the last quarter. Bank of America Corp DE grew its stake in 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. Finally, Marshall Wace LLP grew its stake in Canada Goose by 115.3% during the 2nd quarter. Marshall Wace LLP now owns 1,120,956 shares of the company's stock worth $12,543,000 after buying an additional 600,242 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Canada Goose Company Profile

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.

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