One company that seems to always do well in earnings season is Canada Goose Holdings Inc (TSX:GOOS)(NYSE:GOOS). Although it hasn’t been trading on the TSX for long, it’s already made quite a reputation for itself for beating earnings with a degree of regularity. And with the company coming into its peak season, analysts are expecting big things from Canada Goose.
In its most recent quarter, sales were up by 34%. The stock was doing so well it looked poised to hit $100 for the first time. However, in early December, Huawei’s CFO was arrested in Canada. And while you might think that has nothing to do with Canada Goose, unfortunately there was a movement in China to boycott Canada Goose products for no other reason than the company being a proud Canadian brand. Although illogical, made Canada Goose a very easy target. And that unwarranted negativity led to a big sell off of the stock. From over $90 a share, Canada Goose’s stock would plummet to $55 by Christmas.
Since then, the stock has been rallying, although at under $67 as of Tuesday’s close, it is still nowhere near its recent highs. However, that means it could be a due for a big rally if the company has another strong quarter when its releases its results next month.
Although the bar continues to get higher, Canada Goose has proven to be one stock that you don’t bet against. It’s one of the best growth stocks on the TSX and it might be a great time to buy.
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