Canada Goose (NYSE:GOOS) Hits New 12-Month Low – Here’s Why

Canada Goose Holdings Inc. (NYSE:GOOS) reached a new 52-week low during trading on Thursday . The company traded as low as $9.14 and last traded at $9.1550, with a volume of 498316 shares. The stock had previously closed at $9.75.

Analysts Set New Price Targets

GOOS has been the topic of several research reports. Robert W. Baird set a $11.66 price objective on shares of Canada Goose in a research report on Friday, May 15th. Williams Trading lowered shares of Canada Goose from a “hold” rating to a “strong sell” rating in a research note on Friday. Zacks Research raised shares of Canada Goose from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Weiss Ratings upgraded Canada Goose from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. Finally, Barclays reduced their price objective on Canada Goose from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.53.

Canada Goose Price Performance

The firm’s 50 day moving average price is $9.69 and its two-hundred day moving average price is $11.04. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.63 and a quick ratio of 1.58. The stock has a market cap of $863.38 million, a PE ratio of 68.37 and a beta of 1.61.

Canada Goose (NYSE:GOOS) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). Canada Goose had a net margin of 1.42% and a return on equity of 14.60%. The business had revenue of $325.89 million for the quarter, compared to analysts’ expectations of $295.79 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. On average, research analysts expect that Canada Goose Holdings Inc. will post 0.89 earnings per share for the current year.

Hedge Funds Weigh In On Canada Goose

Hedge funds have recently made changes to their positions in the stock. Kessler Investment Group LLC boosted its stake 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 purchasing an additional 379,516 shares during the period. Simcoe Capital LLC bought a new stake in shares of Canada Goose during the fourth quarter valued at about $2,649,000. CenterBook Partners LP bought a new stake in shares of Canada Goose during the fourth quarter valued at about $5,363,000. Northwestern Mutual Wealth Management Co. lifted its holdings 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 buying an additional 36,629,838 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Canada Goose by 21.2% in 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 period. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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.