Canada Goose (NYSE:GOOS) Trading Down 7% – Time to Sell?

Canada Goose Holdings Inc. (NYSE:GOOS) was down 7% during trading on Wednesday . The company traded as low as $13.22 and last traded at $13.2850. Approximately 631,950 shares changed hands during trading, a decline of 9% from the average daily volume of 691,287 shares. The stock had previously closed at $14.28.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI raised their price objective on shares of Canada Goose from $11.00 to $12.00 and gave the stock an “in-line” rating in a report on Friday, November 7th. Barclays increased their target price on shares of Canada Goose from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group lifted their price target on shares of Canada Goose from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Canada Goose in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.17.

Canada Goose Stock Down 8.8%

The stock’s 50 day moving average is $13.22 and its 200 day moving average is $13.07. The company has a market capitalization of $1.26 billion, a PE ratio of 72.39 and a beta of 1.75. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.89.

Canada Goose (NYSE:GOOS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The business had revenue of $195.63 million during the quarter, compared to analysts’ expectations of $274.05 million. Canada Goose had a net margin of 1.96% and a return on equity of 15.35%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, sell-side analysts anticipate that Canada Goose Holdings Inc. will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Canada Goose

Several hedge funds have recently bought and sold shares of the company. TD Asset Management Inc raised its stake in shares of Canada Goose by 1.5% during the third quarter. TD Asset Management Inc now owns 59,646 shares of the company’s stock worth $821,000 after acquiring an additional 868 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Canada Goose by 5.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,791 shares of the company’s stock worth $187,000 after purchasing an additional 914 shares during the period. Invesco Ltd. lifted its stake in Canada Goose by 7.2% in the second quarter. Invesco Ltd. now owns 15,124 shares of the company’s stock worth $169,000 after purchasing an additional 1,012 shares during the last quarter. National Bank of Canada FI boosted its position in Canada Goose by 6.4% during the third quarter. National Bank of Canada FI now owns 21,825 shares of the company’s stock valued at $291,000 after buying an additional 1,320 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Canada Goose by 5.9% during the second quarter. Russell Investments Group Ltd. now owns 29,026 shares of the company’s stock valued at $324,000 after buying an additional 1,630 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Canada Goose Company Profile

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.