Pinnacle Associates Ltd. Purchases 101,665 Shares of Canada Goose Holdings Inc. $GOOS

Pinnacle Associates Ltd. lifted its position in Canada Goose Holdings Inc. (NYSE:GOOS) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 581,879 shares of the company’s stock after purchasing an additional 101,665 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Canada Goose were worth $7,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PenderFund Capital Management Ltd. purchased a new position in Canada Goose during the third quarter worth about $45,000. US Bancorp DE purchased a new stake in shares of Canada Goose in the 3rd quarter valued at about $83,000. Plato Investment Management Ltd bought a new stake in shares of Canada Goose during the 3rd quarter valued at about $88,000. Evergreen Capital Management LLC bought a new stake in shares of Canada Goose during the 4th quarter valued at about $147,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Canada Goose during the second quarter worth about $139,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Canada Goose Stock Performance

Shares of NYSE GOOS opened at $9.88 on Friday. The stock’s 50-day moving average is $11.17 and its 200 day moving average is $12.30. The stock has a market cap of $959.35 million, a price-to-earnings ratio of 75.98 and a beta of 1.67. Canada Goose Holdings Inc. has a 1-year low of $8.86 and a 1-year high of $15.43. The company has a current ratio of 2.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.69.

Canada Goose (NYSE:GOOS) last issued its earnings results on Thursday, May 14th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). Canada Goose had a return on equity of 13.89% and a net margin of 1.35%.The firm had revenue of $325.89 million during the quarter, compared to analysts’ expectations of $295.79 million. During the same period in the prior year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Canada Goose Holdings Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Canada Goose from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Robert W. Baird cut shares of Canada Goose from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Barclays lowered shares of Canada Goose from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $12.00 to $10.00 in a report on Friday, February 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Canada Goose in a research report on Monday, April 20th. Finally, Wall Street Zen raised shares of Canada Goose from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $15.17.

About Canada Goose

Canada Goose Holdings Inc, traded on the NYSE under the symbol GOOS, is a Canadian design and manufacturing company specializing in premium outerwear. The firm is best known for its down-filled jackets and parkas, engineered to deliver high performance in extreme cold weather. Over time, Canada Goose has expanded its product range to include knitwear, fleece, footwear, and accessories, all designed with an emphasis on technical innovation, quality craftsmanship, and functional style.

Founded in 1957 as Metro Sportswear Ltd.