Canada Goose (NYSE:GOOS) Shares Gap Up After Strong Earnings

Shares of Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.92, but opened at $10.32. Canada Goose shares last traded at $11.00, with a volume of 1,979,952 shares.

The company reported $0.33 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 business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays reaffirmed an "underweight" rating and issued a $8.00 price objective (down previously from $10.00) on shares of Canada Goose in a research note on Monday, March 31st. Wells Fargo & Company raised Canada Goose from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Evercore ISI dropped their target price on Canada Goose from $13.00 to $10.00 and set an "in-line" rating on the stock in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.50.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new position in Canada Goose during the 4th quarter valued at about $12,251,000. Penn Capital Management Company LLC purchased a new position in shares of Canada Goose in the fourth quarter worth about $5,702,000. Portolan Capital Management LLC purchased a new position in shares of Canada Goose in the fourth quarter worth about $4,403,000. Raymond James Financial Inc. purchased a new position in shares of Canada Goose in the fourth quarter worth about $3,769,000. Finally, Pier Capital LLC raised its stake in shares of Canada Goose by 118.0% in the fourth quarter. Pier Capital LLC now owns 357,849 shares of the company's stock worth $3,589,000 after purchasing an additional 193,708 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

Canada Goose Stock Up 23.7%

The company has a quick ratio of 1.14, a current ratio of 2.01 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.07 billion, a PE ratio of 20.73, a P/E/G ratio of 1.00 and a beta of 1.26. The business has a 50 day moving average price of $8.25 and a 200 day moving average price of $9.39.

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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