Canada Goose (NYSE:GOOS) Sees Large Volume Increase on Analyst Upgrade

Key Points

• Canada Goose shares experienced a 260% increase in trading volume following an upgrade from Baird R W from a hold rating to a strong-buy rating, with shares rising from $12.17 to $14.15.
• Institutional investors have significantly increased their positions, with Bank of America growing its stake by 1,557.5% during the second quarter.
• The company reported $77.91 million in revenue for the last quarter, surpassing analyst expectations despite a net loss of ($0.66) earnings per share.

Shares of Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report) saw unusually-high trading volume on Wednesday after Baird R W upgraded the stock from a hold rating to a strong-buy rating. Approximately 4,209,819 shares traded hands during trading, an increase of 260% from the previous session's volume of 1,168,916 shares.The stock last traded at $14.15 and had previously closed at $12.17.

A number of other research firms have also weighed in on GOOS. Robert W. Baird upgraded shares of Canada Goose from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 26th. UBS Group restated a "neutral" rating and set a $11.00 target price (up previously from $8.00) on shares of Canada Goose in a research report on Thursday, May 22nd. Wall Street Zen lowered shares of Canada Goose from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays dropped their target price on shares of Canada Goose from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, The Goldman Sachs Group upped their target price on shares of Canada Goose from $8.00 to $9.00 and gave the stock a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Canada Goose has a consensus rating of "Hold" and a consensus price target of $14.40.

Institutional Investors Weigh In On Canada Goose

Hedge funds have recently bought and sold shares of the business. Versor Investments LP purchased a new stake in Canada Goose during the first quarter valued at $270,000. Dimensional Fund Advisors LP raised its stake in Canada Goose by 22.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 190,086 shares of the company's stock valued at $1,906,000 after purchasing an additional 34,327 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Canada Goose by 10.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 16,621 shares of the company's stock valued at $167,000 after purchasing an additional 1,578 shares in the last quarter. Millennium Management LLC raised its stake in Canada Goose by 120.6% during the fourth quarter. Millennium Management LLC now owns 301,663 shares of the company's stock valued at $3,026,000 after purchasing an additional 164,905 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Canada Goose by 508.0% during the fourth quarter. BNP Paribas Financial Markets now owns 19,238 shares of the company's stock valued at $193,000 after purchasing an additional 16,074 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Canada Goose Trading Down 1.6%

The company has a market cap of $1.26 billion, a PE ratio of 38.13, a P/E/G ratio of 0.97 and a beta of 1.45. The stock's 50 day moving average is $12.39 and its 200-day moving average is $10.48. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 0.87.

Canada Goose (NYSE:GOOS - Get Free Report) last released 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 business had revenue of $77.91 million for the quarter, compared to analysts' expectations 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 previous year, the company earned $0.78 EPS. As a group, sell-side analysts anticipate that Canada Goose Holdings Inc. will post 0.7 EPS for the current year.

About Canada Goose

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.