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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOOS. Evercore set a $10.00 target price on Canada Goose in a research note on Friday, May 15th. TD Cowen boosted their price target on Canada Goose from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings cut Canada Goose from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Williams Trading downgraded shares of Canada Goose from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. Finally, Wall Street Zen lowered shares of Canada Goose from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Canada Goose presently has an average rating of “Reduce” and an average price target of $12.48.

Canada Goose Trading Down 1.9%

The company has a current ratio of 2.63, a quick ratio of 1.58 and a debt-to-equity ratio of 0.65. The business’s 50-day simple moving average is $9.64 and its two-hundred day simple moving average is $10.87. The company has a market capitalization of $850.85 million, a PE ratio of 22.46 and a beta of 1.62.

Canada Goose (NYSE:GOOS) last announced 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 14.25% and a net margin of 3.65%.The company had revenue of $83.71 million during the quarter, compared to the consensus estimate of $76.34 million. During the same period last year, the firm earned $0.91 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. On average, analysts predict that Canada Goose Holdings Inc. will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On Canada Goose

A number of hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Canada Goose by 4.2% during the 1st quarter. Royal Bank of Canada now owns 270,743 shares of the company’s stock worth $2,970,000 after purchasing an additional 11,015 shares during the last quarter. Clough Capital Partners L P purchased a new position in shares of Canada Goose during the 1st quarter valued at approximately $917,000. Lazard Asset Management LLC acquired a new stake in shares of Canada Goose during the first quarter worth approximately $160,000. Dimensional Fund Advisors LP grew its position in shares of Canada Goose by 47.5% during the first quarter. Dimensional Fund Advisors LP now owns 568,377 shares of the company’s stock worth $6,233,000 after buying an additional 182,916 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of Canada Goose by 161.6% in the first quarter. Hsbc Holdings PLC now owns 32,767 shares of the company’s stock worth $357,000 after buying an additional 20,240 shares during the last quarter. Institutional investors and hedge funds 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.