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

Shares of Canada Goose Holdings Inc. (NYSE:GOOS) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.92, but opened at $10.32. Canada Goose shares last traded at $11.00, with a volume of 1,979,952 shares trading hands.

The company reported $0.33 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 the consensus estimate of $355.76 million. Canada Goose had a return on equity of 22.49% and a net margin of 5.47%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOS. Evercore ISI cut their price objective on Canada Goose from $13.00 to $10.00 and set an “in-line” rating for the company in a report on Monday, February 10th. Barclays reissued an “underweight” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Canada Goose in a report on Monday, March 31st. Finally, Wells Fargo & Company raised Canada Goose from an “underweight” rating to an “equal weight” rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Canada Goose presently has an average rating of “Hold” and an average target price of $9.50.

Institutional Investors Weigh In On Canada Goose

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in Canada Goose by 139.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 309,235 shares of the company’s stock valued at $2,458,000 after purchasing an additional 179,946 shares during the last quarter. Interval Partners LP acquired a new stake in Canada Goose during the 1st quarter valued at $347,000. PDT Partners LLC acquired a new stake in Canada Goose during the 1st quarter valued at $647,000. Graham Capital Management L.P. lifted its holdings in Canada Goose by 43.8% during the 1st quarter. Graham Capital Management L.P. now owns 118,645 shares of the company’s stock valued at $943,000 after purchasing an additional 36,158 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Canada Goose by 0.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,363,960 shares of the company’s stock valued at $42,643,000 after purchasing an additional 39,012 shares during the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Canada Goose Stock Up 19.8%

The firm has a fifty day simple moving average of $8.29 and a 200-day simple moving average of $9.40. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.14 and a current ratio of 2.01.

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.