Canada Goose (NYSE:GOOS) Trading Up 8% - Here's Why

Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report) shares traded up 8% during mid-day trading on Wednesday . The company traded as high as $11.88 and last traded at $11.89. 708,000 shares were traded during mid-day trading, a decline of 23% from the average session volume of 925,305 shares. The stock had previously closed at $11.00.

Analyst Ratings Changes

GOOS has been the subject of a number of research reports. Cowen restated a "hold" rating on shares of Canada Goose in a report on Thursday, May 22nd. Wells Fargo & Company raised shares of Canada Goose from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Canada Goose from a "hold" rating to a "buy" rating in a report on Saturday, May 24th. The Goldman Sachs Group increased their target price on Canada Goose from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Thursday, May 22nd. Finally, Evercore ISI set a $11.00 price target on shares of Canada Goose and gave the company an "in-line" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Canada Goose has an average rating of "Hold" and an average target price of $10.50.

Canada Goose Stock Performance

The stock's 50-day simple moving average is $10.37 and its 200 day simple moving average is $9.79. The company has a quick ratio of 1.50, a current ratio of 2.66 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 0.71 and a beta of 1.42.

Canada Goose (NYSE:GOOS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.17. The company had revenue of $266.83 million during the quarter, compared to analyst estimates of $355.76 million. Canada Goose had a net margin of 7.02% and a return on equity of 23.33%. The firm's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Analysts expect that Canada Goose Holdings Inc. will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Canada Goose

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its holdings in Canada Goose by 4,213.0% in the fourth 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 in the last quarter. Deutsche Bank AG raised its position in shares of Canada Goose by 192.0% in the fourth quarter. Deutsche Bank AG now owns 7,998 shares of the company's stock valued at $80,000 after purchasing an additional 5,259 shares during the period. MQS Management LLC purchased a new stake in shares of Canada Goose in the first quarter worth $86,000. Virtu Financial LLC purchased a new position in Canada Goose in the 4th quarter worth approximately $100,000. Finally, Aigen Investment Management LP purchased a new stake in Canada Goose during the fourth quarter valued at about $103,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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