Canada Goose (NYSE:GOOS) Upgraded by TD Cowen to Buy Rating

Key Points

• Canada Goose has been upgraded to a "buy" rating by TD Cowen, with a target price of $18.00, indicating a potential upside of 34.49% from its current price.
• Several analysts have varied opinions on Canada Goose, with ratings ranging from "Strong Buy" to "Sell," and a consensus rating of "Hold" with an average target price of $15.00.
• In its last quarterly earnings report, Canada Goose reported a loss of ($0.66) per share, but exceeded revenue expectations with $77.91 million compared to the estimated $68.33 million.

Canada Goose (NYSE:GOOS - Get Free Report) was upgraded by research analysts at TD Cowen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday,Finviz reports. The firm currently has a $18.00 target price on the stock. TD Cowen's price objective would suggest a potential upside of 34.49% from the stock's current price.

Several other equities research analysts have also weighed in on the stock. Wells Fargo & Company upgraded shares of Canada Goose from an "equal weight" rating to an "overweight" rating in a report on Friday, August 1st. Evercore ISI set a $11.00 target price on shares of Canada Goose and gave the stock an "in-line" rating in a report on Thursday, May 22nd. Robert W. Baird set a $28.00 target price on shares of Canada Goose in a report on Thursday, August 28th. UBS Group reaffirmed a "neutral" rating and set a $11.00 target price (up previously from $8.00) on shares of Canada Goose in a report on Thursday, May 22nd. Finally, Barclays cut their price objective on shares of Canada Goose from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.00.

Canada Goose Price Performance

GOOS opened at $13.38 on Monday. Canada Goose has a one year low of $6.73 and a one year high of $15.43. The stock has a market capitalization of $1.30 billion, a P/E ratio of 39.37, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.02 and a quick ratio of 0.89. The company's 50 day simple moving average is $12.55 and its 200-day simple moving average is $10.58.

Canada Goose (NYSE:GOOS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.66) earnings per share (EPS) 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 business 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 business posted $0.78 earnings per share. Sell-side analysts anticipate that Canada Goose will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. State of Wyoming raised its holdings in shares of Canada Goose by 284.3% in the second quarter. State of Wyoming now owns 51,381 shares of the company's stock valued at $575,000 after purchasing an additional 38,010 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Canada Goose during the second quarter valued at approximately $158,000. Bank of America Corp DE lifted its position in Canada Goose by 1,557.5% during the second 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 last quarter. Ameriprise Financial Inc. bought a new stake in shares of Canada Goose in the 2nd quarter worth approximately $139,000. Finally, Raymond James Financial Inc. lifted its holdings in shares of Canada Goose by 12.3% in the 2nd quarter. Raymond James Financial Inc. now owns 488,181 shares of the company's stock worth $5,463,000 after acquiring an additional 53,573 shares during the last quarter. 83.64% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.