Canada Goose (NYSE:GOOS) upgrade at Zacks Investment Research

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Zacks Investment Research enhanced actions of Canada Goose (NYSE: GOOSGet a rating) from a sell rating to a hold rating in a research report released Tuesday morning, Zacks.com reports.

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

Several other brokerages have also recently weighed in on GOOS. Veritas Investment Research upgraded Canada Goose from a cut to a buy rating in a Monday, February 14 report. UBS Group downgraded Canada Goose from a buy rating to a neutral rating and lowered its target price for the stock from $59.00 to $35.00 in a Friday, January 7, report. Credit Suisse Group lowered its target price on Canada Goose from CA$60.00 to CA$48.00 in a report on Friday, February 11. Barclays reduced its price target on Canada Goose from $38.00 to $32.00 in a research note on Friday, April 1. Finally, Robert W. Baird reduced his price target on Canada Goose to C$50.00 in a Friday, February 11 research note. Four research analysts gave the stock a hold rating and eight issued the company’s stock a buy rating. According to MarketBeat, the company currently has a consensus Buy rating and a consensus price target of $43.00.

Shares of GOOS Stock opened at $23.89 on Tuesday. Canada Goose has a 12-month low of $21.20 and a 12-month high of $53.64. The stock has a market capitalization of $2.56 billion, a price/earnings ratio of 30.63, a P/E/G ratio of 0.55 and a beta of 1.59. The stock has a fifty-day simple moving average of $25.60 and a two-hundred-day simple moving average of $33.96. The company has a current ratio of 2.36, a quick ratio of 1.42 and a debt ratio of 0.71.

Canada Goose (NYSE: GOOSGet a rating) last reported results on Thursday, February 10. The company reported earnings per share of $1.13 for the quarter, beating Thomson Reuters consensus estimate of $1.01 by $0.12. Canada Goose had a return on equity of 22.73% and a net margin of 9.74%. The company posted revenue of $586.10 million in the quarter, compared to $586.52 million expected by analysts. During the same period of the previous year, the company achieved EPS of $0.78. The company’s revenue for the quarter increased by 23.6% compared to the same quarter last year. Research analysts predict that Canada Goose will post EPS of 0.85 for the current fiscal year.

A number of institutional investors have recently increased or reduced their participation in GOOS. Marshall Wace LLP increased its stake in Canada Goose by 19,764.4% in the fourth quarter. Marshall Wace LLP now owns 1,211,731 shares of the company valued at $44,910,000 after purchasing an additional 1,205,631 shares in the last quarter. Caisse DE Dépôt ET Placement DU Québec increased its equity stake in Canada Goose by 871.7% in the third quarter. Caisse DE Dépôt ET Placement DU Quebec now owns 1,204,884 shares of the company valued at $43,018,000 after purchasing an additional 1,080,884 shares during the period. Barclays PLC increased its holdings of Canada Goose shares by 129.8% in the third quarter. Barclays PLC now owns 1,569,741 shares in the company valued at $55,993,000 after purchasing an additional 886,795 shares during the period. Norges Bank acquired a new position in Canada Goose shares in the fourth quarter worth approximately $17,653,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holding in Canada Goose shares by 462.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 560,632 shares of the company valued at $20,793,000 after purchasing an additional 460,868 shares during the period. Institutional investors hold 43.23% of the company’s shares.

About the Canada Goose (Get a rating)

Canada Goose Holdings Inc designs, manufactures and sells luxury performance apparel for men, women, youth, children and babies in Canada, the United States, Asia, Europe and internationally. It operates through three segments: Direct-to-Consumer, Wholesale and Other. The company offers parkas, lightweight down jackets, rainwear, windproof clothing, knitwear, footwear and accessories for the fall, winter and spring seasons.

Further reading

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Analyst Recommendations for Canada Goose (NYSE: GOOS)



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