Wells Fargo & Company Upgrades Canada Goose (NYSE:GOOS) to "Overweight"

Key Points

• Canada Goose has been upgraded from an "equal weight" to an "overweight" rating by Wells Fargo, indicating a positive outlook for the stock.
• The company reported earnings per share of $0.33 for the last quarter, outperforming analysts' expectations of $0.16, despite revenue falling short of forecasts.
• Institutional investors hold a significant stake in Canada Goose with approximately 83.64% of the company's stock owned by this group.

Canada Goose (NYSE:GOOS - Get Free Report) was upgraded by research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a note issued to investors on Friday, Marketbeat reports.

A number of other brokerages have also recently issued reports on GOOS. UBS Group reiterated a "neutral" rating and set a $11.00 price objective (up previously from $8.00) on shares of Canada Goose in a research note on Thursday, May 22nd. Wall Street Zen upgraded Canada Goose from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Evercore ISI set a $11.00 target price on Canada Goose and gave the stock an "in-line" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group lifted their target price on Canada Goose from $8.00 to $9.00 and gave the stock a "sell" rating in a research note on Thursday, May 22nd. Finally, Barclays upgraded Canada Goose from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $11.00 to $14.00 in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Canada Goose has a consensus rating of "Hold" and a consensus target price of $11.00.

Canada Goose Trading Down 0.5%

GOOS stock traded down $0.05 during midday trading on Friday, reaching $11.37. The company's stock had a trading volume of 961,443 shares, compared to its average volume of 1,149,898. Canada Goose has a 52 week low of $6.73 and a 52 week high of $15.43. The stock has a market cap of $1.10 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 0.75 and a beta of 1.45. The company has a quick ratio of 0.89, a current ratio of 2.02 and a debt-to-equity ratio of 0.87. The business's 50-day simple moving average is $12.36 and its 200-day simple moving average is $10.32.

Canada Goose (NYSE:GOOS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.04). Canada Goose had a net margin of 3.48% and a return on equity of 19.85%. The company had revenue of $77.91 million during the quarter, compared to the consensus estimate of $68.33 million. During the same period in the previous year, the firm posted $0.78 EPS. As a group, sell-side analysts expect that Canada Goose will post 0.7 EPS for the current year.

Hedge Funds Weigh In On Canada Goose

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership bought a new stake in shares of Canada Goose in the fourth quarter worth $12,251,000. Penn Capital Management Company LLC acquired a new position in shares of Canada Goose in the 4th quarter worth approximately $5,702,000. Portolan Capital Management LLC acquired a new position in shares of Canada Goose in the 4th quarter worth approximately $4,403,000. Raymond James Financial Inc. acquired a new position in shares of Canada Goose in the 4th quarter worth approximately $3,769,000. Finally, Timucuan Asset Management Inc. FL lifted its position in shares of Canada Goose by 10.8% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 1,948,240 shares of the company's stock worth $15,489,000 after purchasing an additional 189,715 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

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.