Canada Goose (NYSE:GOOS) Stock Rating Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Canada Goose from “strong sell” to “hold,” but the broader analyst consensus remains “Reduce,” with an average price target of $11.78.
• Canada Goose shares opened at $7.71, near their one-year low of $7.36; the stock has a market capitalization of about $752 million and trades below its 50-day and 200-day moving averages.
• The company beat quarterly earnings and revenue expectations, reporting a loss of $0.64 per share versus the $0.70 estimate and revenue of $83.71 million, up 10.3% year over year.

Canada Goose (NYSE:GOOS - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. TD Cowen boosted their price target on shares of Canada Goose from $13.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Robert W. Baird set a $11.41 price objective on shares of Canada Goose in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Canada Goose from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings lowered shares of Canada Goose from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, September 22nd. Finally, Williams Trading lowered shares of Canada Goose from a "hold" rating to a "strong sell" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $11.78.

Canada Goose Stock Performance

Shares of Canada Goose stock opened at $7.71 on Monday. Canada Goose has a one year low of $7.36 and a one year high of $14.69. The company has a market cap of $752.47 million, a price-to-earnings ratio of 19.76, a PEG ratio of 0.48 and a beta of 1.62. 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 business's 50 day moving average price is $8.31 and its 200 day moving average price is $9.67.

Canada Goose (NYSE:GOOS - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.64) earnings per share for the quarter, topping analysts' consensus estimates of ($0.70) by $0.06. The company had revenue of $83.71 million for the quarter, compared to analyst estimates of $76.34 million. Canada Goose had a return on equity of 14.28% and a net margin of 3.65%.During the same quarter in the previous year, the company posted $0.91 earnings per share. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts predict that Canada Goose will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Canada Goose

A number of hedge funds have recently modified their holdings of GOOS. Lazard Asset Management LLC purchased a new stake in Canada Goose in the 1st quarter valued at about $160,000. Public Employees Retirement System of Ohio purchased a new position in Canada Goose during the second quarter worth about $177,000. Spark Investment Management LLC acquired a new stake in shares of Canada Goose during the fourth quarter valued at about $207,000. Penn Capital Management Company LLC acquired a new stake in shares of Canada Goose during the second quarter valued at about $247,000. Finally, DGS Capital Management LLC raised its stake in shares of Canada Goose by 38.7% in the 4th quarter. DGS Capital Management LLC now owns 24,933 shares of the company's stock valued at $323,000 after acquiring an additional 6,951 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 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.

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