Canada Goose (NYSE:GOOS) Sees Large Volume Increase – Should You Buy?

Shares of Canada Goose Holdings Inc. (NYSE:GOOS) saw unusually-high trading volume on Monday . Approximately 832,850 shares changed hands during mid-day trading, an increase of 12% from the previous session’s volume of 745,463 shares.The stock last traded at $10.82 and had previously closed at $10.95.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOS. Wells Fargo & Company downgraded shares of Canada Goose from an “equal weight” rating to an “underweight” rating in a report on Monday, October 14th. UBS Group cut their price target on shares of Canada Goose from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Canada Goose from $9.00 to $8.00 and set a “sell” rating for the company in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Canada Goose currently has a consensus rating of “Hold” and an average price target of $11.60.

Canada Goose Price Performance

The business’s 50-day simple moving average is $10.15 and its 200-day simple moving average is $10.54. The stock has a market cap of $1.04 billion, a PE ratio of 28.90, a PEG ratio of 0.67 and a beta of 1.31. The company has a quick ratio of 0.71, a current ratio of 1.85 and a debt-to-equity ratio of 1.21.

Canada Goose (NYSE:GOOS) last announced its earnings results on Thursday, November 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Canada Goose had a net margin of 4.83% and a return on equity of 22.60%. The firm had revenue of $196.32 million for the quarter, compared to analyst estimates of $183.60 million. During the same quarter in the previous year, the firm posted $0.12 EPS. On average, research analysts expect that Canada Goose Holdings Inc. will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in shares of Canada Goose by 42.9% in the third quarter. The Manufacturers Life Insurance Company now owns 5,554,279 shares of the company’s stock worth $69,595,000 after purchasing an additional 1,667,750 shares in the last quarter. Pier Capital LLC purchased a new stake in shares of Canada Goose in the third quarter worth $2,057,000. Raymond James & Associates increased its stake in shares of Canada Goose by 55.1% in the third quarter. Raymond James & Associates now owns 333,064 shares of the company’s stock worth $4,173,000 after purchasing an additional 118,291 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Canada Goose in the fourth quarter worth $748,000. Finally, DRW Securities LLC purchased a new stake in shares of Canada Goose in the third quarter worth $730,000. Institutional investors own 83.64% of the company’s stock.

Canada Goose Company Profile

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.