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

Canada Goose Holdings Inc. (NYSE:GOOS)’s share price hit a new 52-week low on Monday . The company traded as low as $8.72 and last traded at $8.7590, with a volume of 880815 shares. The stock had previously closed at $8.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOS. Weiss Ratings downgraded Canada Goose from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. Zacks Research upgraded Canada Goose from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Robert W. Baird set a $11.41 price target on Canada Goose in a research note on Friday. Evercore set a $10.00 price target on Canada Goose in a report on Friday, May 15th. Finally, Barclays dropped their price objective on shares of 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 Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Canada Goose presently has a consensus rating of “Reduce” and a consensus price target of $12.48.

Canada Goose Stock Down 1.9%

The stock has a fifty day moving average of $9.64 and a two-hundred day moving average of $10.87. The company has a quick ratio of 1.58, a current ratio of 2.63 and a debt-to-equity ratio of 0.65. The stock has a market cap of $850.85 million, a price-to-earnings ratio of 22.46 and a beta of 1.62.

Canada Goose (NYSE:GOOS) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.06. The company 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 14.25% and a net margin of 3.65%.The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. As a group, analysts predict that Canada Goose Holdings Inc. will post 0.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in Canada Goose by 139.2% during the first quarter. Goldman Sachs Group Inc. now owns 309,235 shares of the company’s stock worth $2,458,000 after buying an additional 179,946 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Canada Goose by 5.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 29,026 shares of the company’s stock valued at $324,000 after acquiring an additional 1,630 shares during the period. Invesco Ltd. raised its stake in shares of Canada Goose by 7.2% in the 2nd quarter. Invesco Ltd. now owns 15,124 shares of the company’s stock valued at $169,000 after acquiring an additional 1,012 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Canada Goose during the 2nd quarter valued at $332,000. Finally, Raymond James Financial Inc. boosted its position in Canada Goose by 12.3% during the 2nd 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 during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

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.