Canada Goose (NYSE:GOOS) Sees Unusually-High Trading Volume – What’s Next?

Canada Goose Holdings Inc. (NYSE:GOOS) saw unusually-strong trading volume on Friday . 357,840 shares were traded during trading, a decline of 42% from the previous session’s volume of 621,219 shares.The stock last traded at $8.8520 and had previously closed at $9.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GOOS shares. Robert W. Baird set a $11.66 price objective on Canada Goose in a report on Friday, May 15th. Williams Trading raised Canada Goose from a “strong sell” rating to a “hold” rating in a research note on Sunday, May 17th. Zacks Research raised Canada Goose from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Weiss Ratings upgraded shares of Canada Goose from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 13th. Finally, Barclays reduced their price objective on shares of Canada Goose from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.53.

Canada Goose Stock Down 2.7%

The company’s fifty day simple moving average is $9.70 and its 200 day simple moving average is $11.06. The company has a quick ratio of 1.58, a current ratio of 2.63 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $866.99 million, a PE ratio of 68.88 and a beta of 1.61.

Canada Goose (NYSE:GOOS) last posted its earnings results on Thursday, May 14th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Canada Goose had a return on equity of 14.60% and a net margin of 1.42%.The firm had revenue of $325.89 million for the quarter, compared to analysts’ expectations of $295.79 million. During the same quarter last year, the company posted $0.33 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Analysts anticipate that Canada Goose Holdings Inc. will post 0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canada Goose

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kessler Investment Group LLC boosted its stake in Canada Goose by 126.8% during the fourth quarter. Kessler Investment Group LLC now owns 678,892 shares of the company’s stock worth $8,792,000 after acquiring an additional 379,516 shares in the last quarter. Simcoe Capital LLC bought a new position in shares of Canada Goose during the fourth quarter valued at approximately $2,649,000. CenterBook Partners LP bought a new position in shares of Canada Goose during the fourth quarter valued at approximately $5,363,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Canada Goose by 15,788,723.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 36,630,070 shares of the company’s stock valued at $474,359,000 after purchasing an additional 36,629,838 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Canada Goose by 21.2% during the fourth quarter. Pinnacle Associates Ltd. now owns 581,879 shares of the company’s stock valued at $7,535,000 after purchasing an additional 101,665 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

About Canada Goose

Canada Goose Holdings Inc, traded on the NYSE under the symbol GOOS, is a Canadian design and manufacturing company specializing in premium outerwear. The firm is best known for its down-filled jackets and parkas, engineered to deliver high performance in extreme cold weather. Over time, Canada Goose has expanded its product range to include knitwear, fleece, footwear, and accessories, all designed with an emphasis on technical innovation, quality craftsmanship, and functional style.

Founded in 1957 as Metro Sportswear Ltd.