Canada Goose (NYSE:GOOS) Sees Strong Trading Volume – Time to Buy?

Canada Goose Holdings Inc. (NYSE:GOOS) shares saw an uptick in trading volume on Thursday . 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.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOS. Wells Fargo & Company lowered Canada Goose from an “equal weight” rating to an “underweight” rating in a report on Monday, October 14th. The Goldman Sachs Group cut their price target on Canada Goose from $9.00 to $8.00 and set a “sell” rating on the stock in a report on Tuesday, December 10th. Finally, UBS Group cut their price target on Canada Goose from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.60.

Canada Goose Price Performance

The firm has a market capitalization of $997.47 million, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 0.61 and a beta of 1.32. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.71 and a current ratio of 1.85. The business has a 50 day simple moving average of $9.81 and a two-hundred day simple moving average of $10.73.

Institutional Investors Weigh In On Canada Goose

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in Canada Goose by 94.3% in the 2nd quarter. American Century Companies Inc. now owns 27,403 shares of the company’s stock worth $354,000 after buying an additional 13,300 shares during the period. Marshall Wace LLP increased its position in Canada Goose by 8.1% during the 2nd quarter. Marshall Wace LLP now owns 1,087,414 shares of the company’s stock valued at $14,060,000 after buying an additional 81,090 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Canada Goose during the 2nd quarter valued at approximately $338,000. Armistice Capital LLC bought a new position in Canada Goose during the 2nd quarter valued at approximately $4,332,000. Finally, Point72 Asset Management L.P. purchased a new stake in Canada Goose during the 2nd quarter valued at $839,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

About Canada Goose

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.