Wall Street Zen Downgrades Canada Goose (NYSE:GOOS) to Hold

Key Points

• Canada Goose has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, while other analysts have issued mixed ratings and adjusted price targets for the stock.
• Canada Goose reported $0.33 earnings per share (EPS) for the last quarter, beating estimates, but fell short of revenue expectations with $266.83 million reported.
• The company's stock opened at $11.27 and has a consensus price target of $11.00, indicating potential stagnation amidst a volatile market.

Wall Street Zen downgraded shares of Canada Goose (NYSE:GOOS - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Cowen reiterated a "hold" rating on shares of Canada Goose in a research report on Thursday, May 22nd. The Goldman Sachs Group upped their price target on shares of Canada Goose from $8.00 to $9.00 and gave the stock a "sell" rating in a research report on Thursday, May 22nd. Wells Fargo & Company raised shares of Canada Goose from an "equal weight" rating to an "overweight" rating in a research report on Friday. Evercore ISI set a $11.00 price target on Canada Goose and gave the stock an "in-line" rating in a report on Thursday, May 22nd. Finally, UBS Group restated a "neutral" rating and set a $11.00 price target (up from $8.00) on shares of Canada Goose in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $11.00.

Canada Goose Stock Down 0.0%

GOOS traded down $0.01 during trading hours on Friday, reaching $11.42. 695,277 shares of the stock traded hands, compared to its average volume of 1,148,156. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 0.75 and a beta of 1.45. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.02 and a quick ratio of 0.89. Canada Goose has a fifty-two week low of $6.73 and a fifty-two week high of $15.43. The firm's fifty day simple moving average is $12.36 and its two-hundred day simple moving average is $10.32.

Canada Goose (NYSE:GOOS - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.04). The firm had revenue of $77.91 million during the quarter, compared to analysts' expectations of $68.33 million. Canada Goose had a return on equity of 19.85% and a net margin of 3.48%. During the same period last year, the business earned $0.78 earnings per share. As a group, analysts forecast that Canada Goose will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canada Goose

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its position in Canada Goose by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 16,791 shares of the company's stock valued at $187,000 after purchasing an additional 914 shares during the period. TD Asset Management Inc raised its holdings in shares of Canada Goose by 3.3% during the first quarter. TD Asset Management Inc now owns 51,512 shares of the company's stock valued at $408,000 after buying an additional 1,656 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Canada Goose by 8.7% during the first quarter. Mackenzie Financial Corp now owns 23,223 shares of the company's stock worth $184,000 after purchasing an additional 1,864 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Canada Goose by 16.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,112 shares of the company's stock worth $242,000 after purchasing an additional 3,410 shares in the last quarter. Finally, Versor Investments LP increased its holdings in shares of Canada Goose by 14.3% in the second quarter. Versor Investments LP now owns 38,988 shares of the company's stock valued at $436,000 after buying an additional 4,888 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

About Canada Goose

Canada Goose Holdings Inc, together with its subsidiaries, designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other.