Canada Goose (TSE:GOOS) Lowered to "Underweight" Rating by Wells Fargo & Company

Key Points

• Wells Fargo downgraded Canada Goose from “equal weight” to “underweight” and set a C$10.00 price target, implying approximately 11% downside from the reported share price.
• Analyst sentiment remains mixed: Bank of America maintains a “buy” rating with a C$15.00 target, while the broader consensus is “hold” with a C$16.67 price target.
• Canada Goose shares fell to C$11.24 and are near their 52-week low of C$11.22, while the company reported quarterly revenue of C$118.9 million and a loss of C$0.89 per share.

Canada Goose (TSE:GOOS - Get Free Report) was downgraded by analysts at Wells Fargo & Company from an "equal weight" rating to an "underweight" rating in a report released on Monday,BayStreet.CA reports. They currently have a C$10.00 target price on the stock. Wells Fargo & Company's price target would indicate a potential downside of 11.03% from the company's current price.

Separately, Bank of America set a C$15.00 price objective on shares of Canada Goose and gave the company a "buy" rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Canada Goose presently has a consensus rating of "Hold" and a consensus price target of C$16.67.

Canada Goose Stock Performance

TSE:GOOS traded down C$0.78 on Monday, hitting C$11.24. The company's stock had a trading volume of 378,303 shares, compared to its average volume of 150,280. The company has a current ratio of 2.33, a quick ratio of 0.69 and a debt-to-equity ratio of 158.47. The stock has a fifty day moving average of C$13.03 and a two-hundred day moving average of C$14.45. The firm has a market capitalization of C$1.10 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 0.61 and a beta of 1.71. Canada Goose has a one year low of C$11.22 and a one year high of C$21.28.

Canada Goose (TSE:GOOS - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported C($0.89) earnings per share for the quarter. Canada Goose had a return on equity of 10.37% and a net margin of 3.70%.The business had revenue of C$118.90 million for the quarter. Research analysts predict that Canada Goose will post 1.6222664 earnings per share for the current year.

Canada Goose Company Profile

Canada Goose Holdings Inc is a Canada based company that designs, manufactures, distributes, and retails premium outerwear for men, women, and children. It operates business through three segments namely, Wholesale and Direct to Consumer (DTC), Other. The DTC segment, which is the key revenue driver, comprises sales through country-specific e-commerce platforms and its company-owned retail stores located in the luxury shopping locations. The Wholesale segment comprises sales made to a mix of functional and fashionable retailers, including major luxury department stores, outdoor specialty stores, and individual shops, and to international distributors.

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