Canada Goose (NYSE:GOOS) Shares Down 6.6% – Here’s What Happened

Canada Goose Holdings Inc. (NYSE:GOOS)’s share price fell 6.6% on Monday . The stock traded as low as $8.14 and last traded at $8.1650. 732,524 shares were traded during trading, an increase of 12% from the average daily volume of 652,225 shares. The stock had previously closed at $8.74.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wall Street Zen cut Canada Goose from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. TD Cowen lifted their price objective on shares of Canada Goose from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Williams Trading downgraded shares of Canada Goose from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. UBS Group reduced their price objective 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. Finally, Barclays decreased their target price 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. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.78.

Canada Goose Trading Down 0.5%

The firm has a market cap of $799.95 million, a P/E ratio of 21.12, a PEG ratio of 0.52 and a beta of 1.62. The company has a 50 day moving average of $9.20 and a 200 day moving average of $10.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 2.33.

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, topping 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 firm had revenue of $83.71 million during the quarter, compared to analysts’ expectations of $76.34 million. During the same period in the prior year, the company posted $0.91 earnings per share. Canada Goose’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts predict that Canada Goose Holdings Inc. will post 0.9 EPS for the current fiscal year.

Institutional Trading of Canada Goose

A number of hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canada Goose by 15,788,723.3% during the 4th 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 period. Bank of America Corp DE raised its position 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 buying an additional 1,189,523 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Canada Goose by 132.5% in the fourth quarter. Marshall Wace LLP now owns 1,540,714 shares of the company’s stock valued at $19,952,000 after buying an additional 877,987 shares during the period. CenterBook Partners LP bought a new stake in shares of Canada Goose in the fourth quarter valued at about $5,363,000. Finally, Millennium Management LLC grew its position in Canada Goose by 279.8% during the fourth quarter. Millennium Management LLC now owns 548,919 shares of the company’s stock worth $7,109,000 after buying an additional 404,374 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.