Canada Goose Holdings Inc. (NYSE:GOOS) Sees Significant Drop in Short Interest

Canada Goose Holdings Inc. (NYSE:GOOS) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 9,960,000 shares, a decrease of 10.8% from the September 15th total of 11,160,000 shares. Currently, 19.9% of the company’s stock are sold short. Based on an average daily volume of 673,200 shares, the short-interest ratio is presently 14.8 days.

Institutional Investors Weigh In On Canada Goose

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Canada Goose by 17.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,725 shares of the company’s stock valued at $177,000 after acquiring an additional 2,002 shares during the period. Claro Advisors LLC acquired a new stake in shares of Canada Goose during the 1st quarter valued at about $210,000. BNP Paribas Financial Markets grew its position in shares of Canada Goose by 2,048.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,927 shares of the company’s stock valued at $252,000 after acquiring an additional 19,953 shares during the period. GAM Holding AG grew its position in shares of Canada Goose by 50.9% during the 2nd quarter. GAM Holding AG now owns 25,000 shares of the company’s stock valued at $323,000 after acquiring an additional 8,430 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Canada Goose in the 2nd quarter valued at about $338,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOS has been the subject of several analyst reports. Raymond James lowered Canada Goose from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 23rd. UBS Group reduced their target price on Canada Goose from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barclays reduced their target price on Canada Goose from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Wedbush started coverage on Canada Goose in a research note on Friday, July 19th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company lowered Canada Goose from an “equal weight” rating to an “underweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.07.

Canada Goose Stock Performance

GOOS traded up $0.03 during midday trading on Thursday, hitting $11.04. 690,527 shares of the company were exchanged, compared to its average volume of 920,592. The company’s 50 day simple moving average is $11.18 and its 200 day simple moving average is $11.90. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The company has a current ratio of 2.14, a quick ratio of 0.63 and a debt-to-equity ratio of 1.25. Canada Goose has a 1-year low of $9.80 and a 1-year high of $14.75.

Canada Goose (NYSE:GOOS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.02. The company had revenue of $64.39 million for the quarter, compared to the consensus estimate of $63.47 million. Canada Goose had a return on equity of 25.63% and a net margin of 4.66%. As a group, sell-side analysts predict that Canada Goose will post 0.84 earnings per share for the current year.

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.