Canada Goose Holdings Inc. (GOOS) Volatility Spurs A Quest For Clarity


Morgan Stanley Investment Managem.. recently announced the acquisition of new stake in Canada Goose Holdings Inc. (NYSE:GOOS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 11.23% to 7.91 million shares with purchase of 0.8 million shares. This fresh investment now brings its stake to 13.37% valued currently at $176.19 million. In addition, Fidelity Management & Research Co.. raised its holdings by 1.09 million to 4.39 million shares. And Citigroup Global Markets, Inc. (I.. has lifted its position by 0.00% or 87.0 shares – to 2.51 million shares.

With over 1.14 million Canada Goose Holdings Inc. (GOOS) shares trading Tuesday and a closing price of $23.92 on the day, the dollar volume was approximately $27.32 million. The shares have shown a positive weekly performance of 3.28% and its price on 08/25/20 gained nearly 2.53%. Currently, there are 59.14M common shares owned by the public and among those 59.05M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for GOOS have a consensus price objective of $28.96. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $15.79 should the stock experience a downside. Incidentally, analysts’ outlook for the Canada Goose Holdings Inc. stock is 1.70 for the next 12 months. The average price target is 27.29% above its last price level and an upside to the estimated low will see the stock lose -51.49% over that period. But an upside of 40.2% will see the stock hit the forecast high price target while mean target price for the stock is $30.21.

The top 3 mutual fund holders in Canada Goose Holdings Inc. are Morgan Stanley Instl. Fund-Intern, Morgan Stanley Instl. Fund-Intern, and Fidelity Growth Company Fund. Morgan Stanley Instl. Fund-Intern owns 3.66 million shares of the company’s stock, all valued at over $81.57 million. The company bought an additional 0.2 million shares recently to bring their total holdings to about 6.19% of the shares outstanding. Morgan Stanley Instl. Fund-Intern bought 0.6 million shares to see its total holdings expand to 3.66 million shares valued at over $81.56 million and representing 6.19% of the shares outstanding. Fidelity Growth Company Fund bought 0.15 million shares to bring its total holdings to over 1.52 million shares at a value of $33.82 million. Fidelity Growth Company Fund now owns shares totaling to 2.57% of the shares outstanding.

Shares of Canada Goose Holdings Inc. (NYSE: GOOS) opened at $23.46, up $0.13 from a prior closing price of $23.33. However, the script later closed the day at $23.92, up 2.53%. The company’s stock has a 5-day price change of 3.28% and 11.88% over the past three months. GOOS shares are trading -34.00% year to date (YTD), with the 12-month market performance down to -35.32% lower. It has a 12-month low price of $12.94 and touched a high of $45.09 over the same period. Currently, 1.14 million shares have been traded, compared to an average intraday trading volume of 1.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.37%, 3.37%, and -11.37% respectively.

Institutional ownership of Canada Goose Holdings Inc. (NYSE: GOOS) 59.14M shares outstanding. Mutual fund holders own 44.43%, while other institutional holders and individual stakeholders account for 44.62% and — respectively.

It has a market capitalization of $1.41B. The stock’s trailing 12-month PE ratio is 35.02, while the earnings-per-share (ttm) stands at $0.68. The company has a PEG of 1.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.67% over the week and 3.74% over the month.

Analysts forecast that Canada Goose Holdings Inc. (GOOS) will achieve an EPS of -$0.07 for the current quarter, -$0.11 for the next quarter and $0.64 for 2019. The lowest estimate earnings-per-share for the quarter is -$0.11 while analysts give the company a high EPS estimate of -$0.04.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Canada Goose Holdings Inc. (GOOS) as a “Strong Buy” at a consensus score of 1.70. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 2 of the 16 advise that investors “hold,” and 1 rated it as a “Sell.”

Looking at the support for the GOOS, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on July 22, 2020, with the firm’s price target at. BofA/Merrill coverage for the Canada Goose Holdings Inc. (GOOS) stock in a research note released on May 15, 2020 offered a Underperform rating with a price target of. BTIG Research was of a view on April 29, 2020 that the stock is Buy, while DA Davidson gave the stock Buy rating on April 15, 2020, issuing a price target of. Wells Fargo on their part issued Overweight rating on March 30, 2020.


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