Canada Goose (NYSE:GOOS) Sets New 52-Week Low – Here’s Why

Canada Goose Holdings Inc. (NYSE:GOOS)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.53 and last traded at $7.5950, with a volume of 262316 shares traded. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Several research firms have issued reports on GOOS. Robert W. Baird set a $11.41 price objective on Canada Goose in a research note on Friday, July 31st. Williams Trading lowered shares of Canada Goose from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. UBS Group dropped their target price on shares of Canada Goose from $12.00 to $10.50 and set a “neutral” rating for the company 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 report on Saturday, July 25th. Finally, Weiss Ratings upgraded shares of Canada Goose from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $11.78.

Canada Goose Stock Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 2.33. The company has a market cap of $728.06 million, a price-to-earnings ratio of 19.11, a PEG ratio of 0.50 and a beta of 1.62. The firm’s 50-day moving average price is $8.78 and its 200 day moving average price is $9.99.

Canada Goose (NYSE:GOOS) last announced its quarterly 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 analysts’ expectations of $76.34 million. Canada Goose had a return on equity of 14.28% and a net margin of 3.65%.Canada Goose’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. On average, sell-side analysts anticipate that Canada Goose Holdings Inc. will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Engineers Gate Manager LP boosted its stake in shares of Canada Goose by 36.7% during the second quarter. Engineers Gate Manager LP now owns 47,565 shares of the company’s stock valued at $452,000 after purchasing an additional 12,775 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Canada Goose during the 2nd quarter worth about $367,000. Spark Investment Management LLC grew its stake in Canada Goose by 52.6% during the second quarter. Spark Investment Management LLC now owns 58,000 shares of the company’s stock worth $549,000 after purchasing an additional 20,000 shares during the period. Penn Capital Management Company LLC acquired a new position in shares of Canada Goose during the 2nd quarter valued at $247,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Canada Goose during the 2nd quarter worth about $177,000. 83.64% of the stock is currently owned by institutional investors.

About Canada Goose

Canada Goose Holdings Inc designs, manufactures and sells performance luxury apparel and accessories under the Canada Goose brand. The company is best known for insulated parkas and winter jackets designed for cold-weather conditions, and its product range also includes lightweight jackets, knitwear, fleece, vests, pants, footwear, gloves, hats and other accessories.

The company sells its products through company-operated retail stores, e-commerce platforms and wholesale partners. Its operations serve customers in North America, Europe and Asia, including markets such as China, Japan and South Korea.