Canada Goose (NYSE:GOOS) Shares Gap Up on Analyst Upgrade

Key Points

• Canada Goose shares experienced a notable increase, opening at $14.03 after an upgrade from TD Cowen from a "hold" to a "buy" rating, with a new price target set at $18.00.
• Institutional investors hold 83.64% of Canada Goose's stock, with Bank of America Corp DE significantly increasing its stake by over 1,557% during the second quarter.
• The company recently reported a quarterly earnings loss of ($0.66) per share, missing analyst estimates, but exceeded revenue expectations with $77.91 million reported.

Shares of Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report) gapped up before the market opened on Monday after TD Cowen upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $13.39, but opened at $14.03. TD Cowen now has a $18.00 price target on the stock. Canada Goose shares last traded at $14.45, with a volume of 763,564 shares trading hands.

GOOS has been the topic of a number of other research reports. Evercore ISI set a $11.00 target price on Canada Goose and gave the company an "in-line" rating in a research note on Thursday, May 22nd. Baird R W upgraded Canada Goose from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Cowen reiterated a "hold" rating on shares of Canada Goose in a research note on Thursday, May 22nd. Robert W. Baird set a $28.00 price target on Canada Goose in a research note on Thursday, August 28th. Finally, The Goldman Sachs Group upped their price target on Canada Goose from $8.00 to $9.00 and gave the stock a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Canada Goose presently has a consensus rating of "Hold" and an average target price of $15.00.

Institutional Trading of Canada Goose

Several hedge funds have recently added to or reduced their stakes in GOOS. Bank of America Corp DE boosted 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 valued at $14,165,000 after purchasing an additional 1,189,523 shares during the period. Headwater Capital Co Ltd bought a new stake in shares of Canada Goose in the 2nd quarter worth approximately $7,385,000. Marshall Wace LLP lifted its position in shares of Canada Goose by 115.3% in the 2nd quarter. Marshall Wace LLP now owns 1,120,956 shares of the company's stock worth $12,543,000 after acquiring an additional 600,242 shares during the period. Jump Financial LLC lifted its position in shares of Canada Goose by 1,064.7% in the 2nd quarter. Jump Financial LLC now owns 323,054 shares of the company's stock worth $3,615,000 after acquiring an additional 295,318 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Canada Goose in the 2nd quarter worth approximately $2,353,000. Institutional investors own 83.64% of the company's stock.

Canada Goose Price Performance

The stock has a 50-day simple moving average of $12.55 and a 200 day simple moving average of $10.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.89 and a current ratio of 2.02. The company has a market cap of $1.42 billion, a P/E ratio of 43.02, a P/E/G ratio of 1.00 and a beta of 1.45.

Canada Goose (NYSE:GOOS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.66) EPS for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.04). Canada Goose had a return on equity of 19.85% and a net margin of 3.48%.The firm had revenue of $77.91 million during the quarter, compared to the consensus estimate of $68.33 million. During the same quarter in the prior year, the business posted $0.78 EPS. On average, equities analysts expect 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.

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