Canada Goose (NYSE:GOOS) Hits New 1-Year Low – Here’s Why

Canada Goose Holdings Inc. (NYSE:GOOS) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.56 and last traded at $8.6970, with a volume of 904612 shares traded. The stock had previously closed at $8.77.

Wall Street Analyst Weigh In

GOOS has been the subject of a number of analyst reports. Barclays dropped their price objective on Canada Goose from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, May 15th. TD Cowen lifted their target price on shares of Canada Goose from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. UBS Group lowered their price target on shares of Canada Goose from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Williams Trading cut shares of Canada Goose from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Finally, Robert W. Baird set a $11.41 price target on shares of Canada Goose in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Canada Goose currently has a consensus rating of “Reduce” and a consensus price target of $11.78.

Canada Goose Price Performance

The business has a 50 day moving average of $9.47 and a 200 day moving average of $10.66. The company has a market cap of $849.49 million, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.33 and a quick ratio of 0.97.

Canada Goose (NYSE:GOOS) last issued 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. Canada Goose had a net margin of 3.65% and a return on equity of 14.28%. The business had revenue of $83.71 million for the quarter, compared to the consensus estimate of $76.34 million. During the same period in the previous year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Canada Goose Holdings Inc. will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Canada Goose

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in Canada Goose by 139.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 309,235 shares of the company’s stock valued at $2,458,000 after acquiring an additional 179,946 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of 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 purchasing an additional 1,630 shares in the last quarter. Invesco Ltd. grew 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 period. Bayesian Capital Management LP purchased a new stake in Canada Goose in the second quarter worth $332,000. Finally, Raymond James Financial Inc. raised its holdings in Canada Goose by 12.3% in the second quarter. Raymond James Financial Inc. now owns 488,181 shares of the company’s stock worth $5,463,000 after purchasing an additional 53,573 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

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.