Canada Goose (NYSE:GOOS) Shares Gap Up Following Strong Earnings

Shares of Canada Goose Holdings Inc. (NYSE:GOOS) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $41.49, but opened at $43.43. Canada Goose shares last traded at $39.64, with a volume of 84,650 shares trading hands.

The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.13. The company had revenue of $208.80 million for the quarter, compared to analysts’ expectations of $165.67 million. Canada Goose had a net margin of 10.27% and a return on equity of 16.50%. Canada Goose’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) EPS.

A number of brokerages recently issued reports on GOOS. Robert W. Baird upped their price target on shares of Canada Goose from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 5th. Credit Suisse Group upped their price target on shares of Canada Goose from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday. BTIG Research upgraded shares of Canada Goose from a “sell” rating to a “neutral” rating in a research note on Friday, February 5th. The Goldman Sachs Group raised Canada Goose from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $26.00 to $39.00 in a research report on Friday, February 5th. Finally, TD Securities decreased their target price on Canada Goose from C$64.00 to C$56.00 and set a “buy” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.10.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. purchased a new stake in shares of Canada Goose during the 1st quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. purchased a new stake in Canada Goose in the 4th quarter worth approximately $47,000. Contravisory Investment Management Inc. purchased a new stake in Canada Goose in the 1st quarter worth approximately $77,000. JPMorgan Chase & Co. increased its holdings in Canada Goose by 101.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,634 shares of the company’s stock worth $103,000 after acquiring an additional 138,909 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Canada Goose in the 1st quarter worth approximately $225,000. 47.26% of the stock is owned by hedge funds and other institutional investors.

The company’s fifty day moving average is $41.42 and its 200-day moving average is $37.59. The company has a market capitalization of $4.21 billion, a PE ratio of 68.22, a price-to-earnings-growth ratio of 7.55 and a beta of 1.73. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.28 and a current ratio of 2.95.

Canada Goose Company Profile (NYSE:GOOS)

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

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