Canada Goose (NYSE:GOOS) Trading Down 8.1% - Here's Why

Key Points

• Canada Goose shares fell 8.1%, trading at $11.72, with approximately 1,072,351 shares exchanged, marking a decline in trading volume.
• Analysts have a consensus rating of "Hold," with a target price of $11.25, despite upgrades from several firms, including a price increase from Barclays from $11.00 to $14.00.
• The company's latest earnings results showed a net margin of 7.02% and revenue of $266.83 million, which was below analysts' expectation of $355.76 million.

Canada Goose Holdings Inc. (NYSE:GOOS - Get Free Report) was down 8.1% on Thursday . The company traded as low as $11.82 and last traded at $11.72. Approximately 1,072,351 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 1,111,967 shares. The stock had previously closed at $12.75.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Canada Goose from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Wells Fargo & Company upgraded shares of Canada Goose from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group restated a "neutral" rating and set a $11.00 price objective (up from $8.00) on shares of Canada Goose in a research note on Thursday, May 22nd. Cowen restated a "hold" rating on shares of Canada Goose in a research note on Thursday, May 22nd. Finally, Barclays upgraded shares of Canada Goose from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $11.00 to $14.00 in a research note on Friday, July 11th. 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.25.

Canada Goose Price Performance

The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.86 and a beta of 1.42. The company has a current ratio of 2.66, a quick ratio of 1.50 and a debt-to-equity ratio of 0.73. The company's 50 day moving average is $12.39 and its 200-day moving average is $10.30.

Canada Goose (NYSE:GOOS - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.17. Canada Goose had a net margin of 7.02% and a return on equity of 23.33%. The firm had revenue of $266.83 million for the quarter, compared to analysts' expectations of $355.76 million. During the same period in the prior year, the firm earned $0.14 EPS. The business's revenue was up 7.4% on a year-over-year basis. Equities research analysts anticipate that Canada Goose Holdings Inc. will post 0.7 earnings per share for the current year.

Hedge Funds Weigh In On Canada Goose

Several hedge funds and other institutional investors have recently bought and sold shares of GOOS. Deutsche Bank AG grew its position in Canada Goose by 192.0% in the 4th quarter. Deutsche Bank AG now owns 7,998 shares of the company's stock worth $80,000 after purchasing an additional 5,259 shares in the last quarter. MQS Management LLC bought a new stake in Canada Goose in the 1st quarter worth about $86,000. Occudo Quantitative Strategies LP bought a new stake in Canada Goose in the 4th quarter worth about $145,000. Vanguard Personalized Indexing Management LLC bought a new stake in Canada Goose in the 2nd quarter worth about $151,000. Finally, Public Employees Retirement System of Ohio grew its position in Canada Goose by 10.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 16,621 shares of the company's stock worth $167,000 after purchasing an additional 1,578 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company's stock.

Canada Goose Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.