Canada Goose (NYSE:GOOS) Hits New 52-Week Low Following Analyst Downgrade

Canada Goose Holdings Inc. (NYSE:GOOS) shares 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.

A number of other equities analysts have also weighed in on GOOS. Wall Street Zen lowered Canada Goose from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Barclays dropped their price target on Canada Goose from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Robert W. Baird set a $11.41 price objective on shares of Canada Goose in a research report on Friday, July 31st. UBS Group lowered their target price on shares of Canada Goose from $12.00 to $10.50 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings lowered shares of Canada Goose from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Canada Goose currently has an average rating of “Reduce” and a consensus price target of $11.78.

Hedge Funds Weigh In On Canada Goose

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Canada Goose by 15,788,723.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 36,630,070 shares of the company’s stock worth $474,359,000 after purchasing an additional 36,629,838 shares during the last quarter. Marshall Wace LLP raised its position in Canada Goose by 132.5% during the 4th 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. Bank of America Corp DE raised its position in Canada Goose by 1,557.5% during the 2nd 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. 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 during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Canada Goose by 21.2% in the 4th quarter. Pinnacle Associates Ltd. now owns 581,879 shares of the company’s stock worth $7,535,000 after buying an additional 101,665 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Canada Goose Trading Up 0.2%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 2.33. The stock has a market capitalization of $857.28 million, a P/E ratio of 22.66 and a beta of 1.62. The stock 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 announced its earnings results on Thursday, July 30th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.06. The company had revenue of $83.71 million during the quarter, compared to the consensus estimate of $76.34 million. Canada Goose had a return on equity of 14.28% and a net margin of 3.65%.The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 earnings per share. On average, research analysts forecast that Canada Goose Holdings Inc. will post 0.79 EPS for the current fiscal year.

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.