Thursday, 18 April, 2019

Canada Goose shares take flight after strong earnings report

Canada Goose posts surprise profit announces expansion Modal Trigger WireImage
Priscilla Morrison | 17 June, 2018, 22:01

Its Overweight Rating reconfirmed at Barclays. Starting in 2016, Canada Goose opened stores of its own, including US flagship locations in New York City and Chicago and a store in Boston.

Canada Goose Holdings Inc. designs, makes, and sells premium outdoor apparel for men, women, youth, children, and babies in Canada, the United States, and internationally.The firm is valued at $4.92 billion.

"The increase was driven by the strong performance of existing retail stores and e-commerce sites including a full year of operations for Toronto and New York City retail stores, and incremental revenue from four new retail stores and eight national e-commerce sites opened during the fiscal year", the press release said.

Several research analysts recently commented on the stock. Finally, ValuEngine raised shares of Canada Goose from a "hold" rating to a "buy" rating in a report on Monday, May 14th.

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On 13 June, a research report was published of Canada Goose (GOOS). On Wednesday, June 13 the stock of Canada Goose Holdings Inc. Finally, Credit Suisse Group initiated coverage on shares of Canada Goose in a research note on Monday, March 12th. They set an "outperform" rating on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Canada Goose now has a consensus rating of Buy and an average price target of $40.43. Canaccord Genuity lifted their price objective on Canada Goose from $48.00 to $58.00 and gave the company a buy rating in a research report on Wednesday, June 6th. GOOS has 435,800 shares volume. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.22 and a quick ratio of 1.24. Canada Goose has a fifty-two week low of $16.96 and a fifty-two week high of $46.33.

After announcing expansion plans in China in late May, Canada Goose Chairman, President, and CEO Dani Reiss told investors during a Friday conference call the company will manage new stores in Beijing and Hong Kong from a regional head office in Shanghai. Elephas Investment Management Ltd bought a new position in Canada Goose in the 4th quarter worth approximately $17,208,000. Sei Investments Co. boosted its stake in shares of Canada Goose by 22.4% in the first quarter. Employing more than 2,700 people worldwide, Canada Goose is a recognized leader for its Made in Canada commitment, and is a long-time partner of Polar Bears International. Insiders sold 114,088 shares of company stock worth $5,459,221 over the last 90 days. Canada Goose Holdings had 4 analyst reports since February 5, 2018 according to SRatingsIntel.

Revenue from its direct-to-consumer segment jumped to C$95 million from C$36.5 million, while wholesale business doubled to nearly C$30 million in the quarter from a year earlier. The Short Hills and Montréal locations will be the first locations in North America to offer a "cold room" - an immersive experience where fans can test the brand's warmest parkas in temperatures as low as -25 Celsius (-13 Fahrenheit) to find the ideal jacket for the adventure they seek.

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