Canada Goose (NYSE:GOOS) Sees Large Volume Increase – Still a Buy?

Canada Goose Holdings Inc. (NYSE:GOOS) shares saw unusually-high trading volume on Thursday . Approximately 170,078 shares changed hands during trading, a decline of 66% from the previous session’s volume of 493,558 shares.The stock last traded at $10.07 and had previously closed at $10.12.

Analyst Upgrades and Downgrades

GOOS has been the topic of a number of recent analyst reports. UBS Group reduced their target price on Canada Goose from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price objective on shares of Canada Goose from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company downgraded Canada Goose from an “equal weight” rating to an “underweight” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Canada Goose presently has a consensus rating of “Hold” and an average price target of $11.60.

Canada Goose Stock Performance

The firm has a market cap of $987.84 million, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 0.61 and a beta of 1.32. The stock’s 50-day moving average price is $9.83 and its 200 day moving average price is $10.71. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.85 and a quick ratio of 0.71.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in Canada Goose by 42.9% during the third quarter. The Manufacturers Life Insurance Company now owns 5,554,279 shares of the company’s stock worth $69,595,000 after acquiring an additional 1,667,750 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Canada Goose in the 2nd quarter valued at about $4,332,000. Pier Capital LLC acquired a new stake in Canada Goose in the 3rd quarter valued at about $2,057,000. Raymond James & Associates lifted its stake in Canada Goose by 55.1% in the 3rd quarter. Raymond James & Associates now owns 333,064 shares of the company’s stock valued at $4,173,000 after purchasing an additional 118,291 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Canada Goose by 8.1% during the second quarter. Marshall Wace LLP now owns 1,087,414 shares of the company’s stock worth $14,060,000 after buying an additional 81,090 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

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.