Canada Goose (NYSE:GOOS) Hits New 52-Week Low - Time to Sell?

Key Points

• Canada Goose shares fell to a new 52-week low, reaching $8.56 before last trading near $8.70. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is broadly negative, with one Buy, three Hold and five Sell ratings producing a consensus “Reduce” rating and an average price target of $11.78.
• Despite the stock weakness, the company’s latest quarterly revenue rose 10.3% year over year to $83.71 million and exceeded expectations, while institutional investors own 83.64% of outstanding shares.

Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.56 and last traded at $8.6970, with a volume of 904612 shares. The stock had previously closed at $8.77.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOS. Robert W. Baird set a $11.41 price objective on Canada Goose in a report on Friday, July 31st. Weiss Ratings downgraded Canada Goose from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, July 28th. Zacks Research lowered Canada Goose from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, August 3rd. Wall Street Zen cut Canada Goose from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Finally, TD Cowen increased their price objective on Canada Goose from $13.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $11.78.

Canada Goose Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 2.33 and a quick ratio of 0.97. The company's 50 day moving average price is $9.52 and its 200 day moving average price is $10.71. The firm has a market capitalization of $841.52 million, a P/E ratio of 22.21, a PEG ratio of 0.55 and a beta of 1.62.

Canada Goose (NYSE:GOOS - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.06. Canada Goose had a net margin of 3.65% and a return on equity of 14.28%. The firm had revenue of $83.71 million during the quarter, compared to analysts' expectations of $76.34 million. During the same quarter in the previous year, the company posted $0.91 EPS. Canada Goose's revenue was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Canada Goose Holdings Inc. will post 0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Canada Goose

A number of institutional investors and hedge funds have recently made changes to their positions in GOOS. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 valued at $474,359,000 after buying an additional 36,629,838 shares during the period. Bank of America Corp DE boosted its stake in Canada Goose by 1,557.5% in the second quarter. Bank of America Corp DE now owns 1,265,898 shares of the company's stock valued at $14,165,000 after acquiring an additional 1,189,523 shares during the last quarter. Marshall Wace LLP grew its holdings in Canada Goose by 132.5% during the 4th quarter. Marshall Wace LLP now owns 1,540,714 shares of the company's stock worth $19,952,000 after acquiring an additional 877,987 shares during the period. CenterBook Partners LP acquired a new stake in Canada Goose during the 4th quarter worth $5,363,000. Finally, Millennium Management LLC raised its position in shares of Canada Goose by 279.8% during the 4th quarter. Millennium Management LLC now owns 548,919 shares of the company's stock valued at $7,109,000 after acquiring an additional 404,374 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Canada Goose Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source