Canada Goose (NYSE:GOOS) Sees Strong Trading Volume on Earnings Beat

Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report) saw strong trading volume on Thursday following a better than expected earnings announcement. 847,845 shares traded hands 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 (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.17. Canada Goose had a net margin of 5.47% and a return on equity of 22.49%. The company had revenue of $266.83 million for the quarter, compared to analyst estimates of $355.76 million. During the same period last year, the company posted $0.14 earnings per share. Canada Goose's revenue was up 7.4% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company raised Canada Goose from an "underweight" rating to an "equal weight" rating in a report on Wednesday, April 30th. UBS Group raised their price objective on shares of Canada Goose from $8.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday. Barclays reaffirmed an "underweight" rating and issued a $8.00 price objective (down previously from $10.00) on shares of Canada Goose in a report on Monday, March 31st. Finally, Evercore ISI lowered their target price on shares of Canada Goose from $13.00 to $10.00 and set an "in-line" rating on the stock in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Canada Goose currently has a consensus rating of "Hold" and an average price target of $9.25.

Institutional Trading of Canada Goose

Several large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its stake in Canada Goose by 4,213.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,313 shares of the company's stock worth $43,000 after purchasing an additional 4,213 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Canada Goose by 192.0% during the 4th quarter. Deutsche Bank AG now owns 7,998 shares of the company's stock valued at $80,000 after acquiring an additional 5,259 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Canada Goose in the first quarter valued at about $86,000. Virtu Financial LLC acquired a new stake in Canada Goose during the fourth quarter worth about $100,000. Finally, Aigen Investment Management LP acquired a new stake in Canada Goose during the fourth quarter worth about $103,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Canada Goose Stock Up 6.3%

The company has a debt-to-equity ratio of 0.81, a current ratio of 2.01 and a quick ratio of 1.14. The company has a market capitalization of $1.10 billion, a PE ratio of 21.82, a P/E/G ratio of 1.00 and a beta of 1.26. The business's 50 day simple moving average is $8.29 and its 200 day simple moving average is $9.40.

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.

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