Canada Goose (NYSE:GOOS) Stock Price Down 6.6% – Time to Sell?

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

Wall Street Analysts Forecast Growth

GOOS has been the topic of a number of research reports. Williams Trading cut Canada Goose from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Barclays cut 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. UBS Group reduced their price target on shares of Canada Goose from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of Canada Goose from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Evercore set a $10.00 price objective on shares of Canada Goose in a report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $11.78.

Canada Goose Stock Performance

The company has a quick ratio of 0.97, a current ratio of 2.33 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $9.27 and a 200 day moving average price of $10.44. The stock has a market cap of $790.23 million, a PE ratio of 20.83, a P/E/G ratio of 0.55 and a beta of 1.62.

Canada Goose (NYSE:GOOS) last issued its earnings results on Thursday, July 30th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.06. Canada Goose had a return on equity of 14.28% and a net margin of 3.65%.The company 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 business posted $0.91 EPS. Canada Goose’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that Canada Goose Holdings Inc. will post 0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in 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 valued at $474,359,000 after buying an additional 36,629,838 shares during the last quarter. Marshall Wace LLP increased its position 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 acquiring an additional 877,987 shares during the period. Bank of America Corp DE increased its position in shares of Canada Goose by 1,557.5% in 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 acquiring an additional 1,189,523 shares during the period. Kessler Investment Group LLC raised its stake in shares of Canada Goose by 126.8% during the fourth quarter. Kessler Investment Group LLC now owns 678,892 shares of the company’s stock valued at $8,792,000 after acquiring an additional 379,516 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of Canada Goose by 21.2% during the fourth quarter. Pinnacle Associates Ltd. now owns 581,879 shares of the company’s stock valued at $7,535,000 after acquiring an additional 101,665 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.

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.