Hugo Boss (OTCMKTS:BOSSY) Shares Gap Down - Here's What Happened

Key Points

• Hugo Boss shares gapped down — the stock opened at $8.39 after a prior close of $8.8650, a roughly 5.4% drop with only 500 shares traded.
• Analyst sentiment weakened — Royal Bank of Canada downgraded Hugo Boss from "outperform" to "sector perform," and the consensus rating is "Hold" from two analysts.
• Recent quarter beat expectations — Hugo Boss reported $0.37 EPS vs. $0.32 expected and revenue of $1.49 billion vs. $1.20 billion expected, with analysts forecasting 0.63 EPS for the year.

Hugo Boss (OTCMKTS:BOSSY - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $8.8650, but opened at $8.39. Hugo Boss shares last traded at $8.39, with a volume of 500 shares changing hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada downgraded Hugo Boss from an "outperform" rating to a "sector perform" rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Hugo Boss currently has an average rating of "Hold".

Hugo Boss Stock Down 5.4%

The stock has a market cap of $2.90 billion, a P/E ratio of 10.11 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 1.63 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $8.62 and a 200-day simple moving average of $8.68.

Hugo Boss (OTCMKTS:BOSSY - Get Free Report) last announced its earnings results on Tuesday, March 10th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.20 billion. Hugo Boss had a return on equity of 17.43% and a net margin of 5.92%. Analysts expect that Hugo Boss will post 0.63 EPS for the current year.

Hugo Boss Company Profile

Hugo Boss AG is a German luxury fashion group that designs, produces and distributes a broad range of apparel, accessories and footwear under its two core brands, BOSS and HUGO. The company's product portfolio spans men's and women's business wear, casual collections and athleisure, as well as fragrances, eyewear and leather goods. Hugo Boss operates through a multi-channel network that includes directly operated retail stores, e-commerce platforms and wholesale partnerships with department stores and specialty retailers.

Founded in 1924 by Hugo Ferdinand Boss and headquartered in Metzingen, Germany, the company originally produced workwear and uniforms before pivoting to high-end fashion in the latter half of the 20th century.

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