Canada Goose (NYSE:GOOS) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Canada Goose to “strong sell” from “strong buy,” while the broader analyst consensus is “Reduce,” with five sell, three hold and one buy rating and an average price target of $11.78.
• Canada Goose shares opened at $8.82, near their 52-week low of $8.68 and below both the 50-day ($9.61) and 200-day ($10.81) moving averages.
• The company’s latest quarter exceeded expectations, with revenue rising 10.3% year over year to $83.71 million and a loss of $0.64 per share versus the anticipated $0.70 loss; institutional investors own 83.64% of the stock.

Canada Goose (NYSE:GOOS - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "strong sell" rating in a research report issued on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Evercore set a $10.00 target price on Canada Goose in a research note on Friday, May 15th. Wall Street Zen cut shares of Canada Goose from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. UBS Group reduced their price objective on shares of Canada Goose from $12.00 to $10.50 and set a "neutral" rating for the company in a research report on Tuesday. Barclays cut 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. Finally, Williams Trading lowered Canada Goose from a "hold" rating to a "strong sell" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $11.78.

Canada Goose Stock Performance

Shares of GOOS opened at $8.82 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 2.33. Canada Goose has a 1 year low of $8.68 and a 1 year high of $15.40. The firm has a fifty day moving average of $9.61 and a 200-day moving average of $10.81. The company has a market cap of $856.40 million, a price-to-earnings ratio of 22.61 and a beta of 1.62.

Canada Goose (NYSE:GOOS - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $76.34 million. During the same period in the previous year, the business posted $0.91 EPS. Canada Goose's revenue was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Canada Goose will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of Canada Goose by 15,788,723.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 36,630,070 shares of the company's stock valued at $474,359,000 after purchasing 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 2nd quarter. Bank of America Corp DE now owns 1,265,898 shares of the company's stock valued at $14,165,000 after buying an additional 1,189,523 shares in the last quarter. Marshall Wace LLP grew its position in Canada Goose by 132.5% in the fourth quarter. Marshall Wace LLP now owns 1,540,714 shares of the company's stock valued at $19,952,000 after acquiring an additional 877,987 shares during the period. CenterBook Partners LP bought a new stake in Canada Goose in the fourth quarter valued at $5,363,000. Finally, Millennium Management LLC raised its stake in Canada Goose by 279.8% during the fourth quarter. Millennium Management LLC now owns 548,919 shares of the company's stock worth $7,109,000 after acquiring an additional 404,374 shares in 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.

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