Canada Goose (NYSE:GOOS) Sees Large Volume Increase on Strong Earnings

Shares of Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. 847,845 shares were traded during trading, a decline of 21% from the previous session's volume of 1,069,201 shares.The stock last traded at $11.38 and had previously closed at $10.67.

The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.17. The company had revenue of $266.83 million during the quarter, compared to analysts' expectations of $355.76 million. Canada Goose had a net margin of 5.47% and a return on equity of 22.49%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOS shares. UBS Group reaffirmed a "neutral" rating and issued a $11.00 price target (up previously from $8.00) on shares of Canada Goose in a report on Thursday, May 22nd. Wells Fargo & Company raised Canada Goose from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, April 30th. Cowen reiterated a "hold" rating on shares of Canada Goose in a research report on Thursday. Barclays lifted their price objective on Canada Goose from $8.00 to $11.00 and gave the stock an "underweight" rating in a report on Friday. Finally, Wall Street Zen raised Canada Goose from a "hold" rating to a "buy" rating in a report on Saturday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.50.

Institutional Trading of Canada Goose

Large investors have recently added to or reduced their stakes in the stock. DGS Capital Management LLC boosted its position in shares of Canada Goose by 75.0% during the 4th quarter. DGS Capital Management LLC now owns 18,348 shares of the company's stock valued at $184,000 after acquiring an additional 7,863 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Canada Goose during the fourth quarter worth about $748,000. Olympiad Research LP raised its stake in Canada Goose by 18.2% during the fourth quarter. Olympiad Research LP now owns 16,543 shares of the company's stock worth $166,000 after purchasing an additional 2,549 shares during the period. NINE MASTS CAPITAL Ltd boosted its holdings in Canada Goose by 63.2% in the 4th quarter. NINE MASTS CAPITAL Ltd now owns 21,172 shares of the company's stock valued at $212,000 after purchasing an additional 8,200 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in Canada Goose by 4,213.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,313 shares of the company's stock valued at $43,000 after purchasing an additional 4,213 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Canada Goose Price Performance

The stock's fifty day moving average price is $8.48 and its 200-day moving average price is $9.44. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 1.00 and a beta of 1.26. The company has a current ratio of 2.01, a quick ratio of 1.14 and a debt-to-equity ratio of 0.81.

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.