Canada Goose (NYSE:GOOS) Shares Gap Down – Here’s Why

Canada Goose Holdings Inc. (NYSE:GOOS) gapped down before the market opened on Thursday . The stock had previously closed at $13.22, but opened at $10.60. Canada Goose shares last traded at $10.7280, with a volume of 1,571,624 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on GOOS. Barclays lifted their price objective on Canada Goose from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. UBS Group increased their price objective on shares of Canada Goose from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Zacks Research cut shares of Canada Goose from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Canada Goose in a research report on Wednesday, January 21st. Finally, Evercore ISI upped their price target on shares of Canada Goose from $11.00 to $12.00 and gave the stock an “in-line” rating in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.50.

Canada Goose Stock Down 18.2%

The company has a quick ratio of 0.82, a current ratio of 1.89 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $1.05 billion, a PE ratio of 60.06 and a beta of 1.78. The business has a 50-day moving average price of $13.09 and a 200-day moving average price of $13.11.

Canada Goose (NYSE:GOOS) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Canada Goose had a net margin of 1.96% and a return on equity of 15.35%. The business had revenue of $195.63 million during the quarter, compared to analyst estimates of $274.05 million. During the same period last year, the company earned $0.05 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts forecast that Canada Goose Holdings Inc. will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canada Goose

A number of hedge funds and other institutional investors have recently modified their holdings of GOOS. Portolan Capital Management LLC boosted its holdings in Canada Goose by 46.2% in the third quarter. Portolan Capital Management LLC now owns 2,174,001 shares of the company’s stock valued at $29,979,000 after acquiring an additional 686,504 shares during the last quarter. Bank of America Corp DE raised its stake 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 period. Marshall Wace LLP boosted its stake in shares of Canada Goose by 115.3% in the second quarter. Marshall Wace LLP now owns 1,120,956 shares of the company’s stock valued at $12,543,000 after purchasing an additional 600,242 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Canada Goose by 2.7% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,047,971 shares of the company’s stock valued at $11,728,000 after purchasing an additional 27,170 shares in the last quarter. Finally, Kessler Investment Group LLC lifted its holdings in Canada Goose by 126.8% in the 4th quarter. Kessler Investment Group LLC now owns 678,892 shares of the company’s stock worth $8,792,000 after buying an additional 379,516 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.