Canada Goose (NYSE:GOOS) Upgraded to “Buy” at Zacks Investment Research

Canada Goose (NYSE:GOOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The firm currently has a $43.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.03% from the stock’s previous close.

According to Zacks, “Canada Goose is a global outerwear brand. Canada Goose is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. The Company’s jackets are sold in 36 countries around the world, including in two owned retail stores and four e-commerce stores. “

A number of other research firms have also recently weighed in on GOOS. Bank of America cut shares of Canada Goose from a “buy” rating to a “neutral” rating and set a $33.50 price objective on the stock. in a research report on Thursday, May 30th. DA Davidson boosted their price objective on shares of Canada Goose from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. Goldman Sachs Group upgraded shares of Canada Goose from a “neutral” rating to a “buy” rating and cut their price objective for the company from $65.00 to $47.00 in a research report on Friday, May 31st. Wells Fargo & Co reiterated a “hold” rating on shares of Canada Goose in a research report on Thursday, May 30th. Finally, Credit Suisse Group cut their price objective on shares of Canada Goose from $76.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.48.

Canada Goose stock traded down $0.50 during mid-day trading on Friday, reaching $37.71. 1,839,417 shares of the company’s stock traded hands, compared to its average volume of 1,988,722. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 1.21 and a beta of 3.03. The stock has a 50 day moving average of $42.77 and a two-hundred day moving average of $46.81. The company has a quick ratio of 1.07, a current ratio of 3.02 and a debt-to-equity ratio of 0.36. Canada Goose has a 12-month low of $31.67 and a 12-month high of $72.27.

Canada Goose (NYSE:GOOS) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.01. The company had revenue of $71.10 million for the quarter, compared to the consensus estimate of $54.38 million. Canada Goose had a net margin of 17.24% and a return on equity of 46.09%. Canada Goose’s revenue was up 59.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. As a group, sell-side analysts forecast that Canada Goose will post 1.3 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. grew its holdings in shares of Canada Goose by 10.2% in the second quarter. Advisor Group Inc. now owns 3,759 shares of the company’s stock worth $146,000 after purchasing an additional 347 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Canada Goose by 8.1% in the first quarter. Sigma Planning Corp now owns 5,072 shares of the company’s stock worth $244,000 after purchasing an additional 382 shares during the last quarter. Optimum Investment Advisors bought a new position in shares of Canada Goose in the first quarter worth about $33,000. Kistler Tiffany Companies LLC bought a new position in shares of Canada Goose in the second quarter worth about $29,000. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Canada Goose by 454.5% in the first quarter. Rehmann Capital Advisory Group now owns 976 shares of the company’s stock worth $47,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 51.34% of the company’s stock.

Canada Goose Company Profile

Canada Goose Holdings Inc designs, manufactures, and sells premium outdoor apparel for men, women, youth, children, and babies. The company operates in two segments, Wholesale and Direct to Consumer. It offers parkas, jackets, shells, vests, knitwear, and accessories for fall, winter, and spring seasons.

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