Canada Goose (NYSE:GOOS) Sets New 12-Month Low on Analyst Downgrade

Canada Goose Holdings Inc. (NYSE:GOOS)’s share price hit a new 52-week low on Monday after Zacks Research downgraded the stock from a strong-buy rating to a strong sell rating. The stock traded as low as $8.72 and last traded at $8.7590, with a volume of 880815 shares changing hands. The stock had previously closed at $8.93.

Several other equities analysts have also recently commented on the stock. TD Cowen increased their price target on shares of Canada Goose from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $11.41 price objective on Canada Goose in a report on Friday, July 31st. Barclays cut their price objective on Canada Goose from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, May 15th. Weiss Ratings downgraded Canada Goose from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Finally, UBS Group decreased their target price on Canada Goose from $12.00 to $10.50 and set a “neutral” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $11.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GOOS. Northwestern Mutual Wealth Management Co. raised its stake in Canada Goose by 15,788,723.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 36,630,070 shares of the company’s stock worth $474,359,000 after acquiring an additional 36,629,838 shares during the period. Bank of America Corp DE grew its holdings in shares of Canada Goose by 1,557.5% during the second quarter. Bank of America Corp DE now owns 1,265,898 shares of the company’s stock valued at $14,165,000 after purchasing an additional 1,189,523 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Canada Goose by 132.5% during the fourth quarter. Marshall Wace LLP now owns 1,540,714 shares of the company’s stock valued at $19,952,000 after purchasing an additional 877,987 shares during the last quarter. CenterBook Partners LP bought a new position in shares of Canada Goose during the fourth quarter valued at approximately $5,363,000. Finally, Millennium Management LLC raised its position in shares of Canada Goose by 279.8% during the 4th quarter. Millennium Management LLC now owns 548,919 shares of the company’s stock worth $7,109,000 after purchasing an additional 404,374 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.

Canada Goose Price Performance

The firm has a market capitalization of $861.94 million, a price-to-earnings ratio of 22.78 and a beta of 1.62. The company has a current ratio of 2.33, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $10.81.

Canada Goose (NYSE:GOOS) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.06. The business had revenue of $83.71 million during the quarter, compared to analyst estimates of $76.34 million. Canada Goose had a return on equity of 14.28% and a net margin of 3.65%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. As a group, research analysts forecast that Canada Goose Holdings Inc. will post 0.79 EPS for the current year.

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.