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

Canada Goose (NYSE:GOOS) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts also recently commented on GOOS. Wall Street Zen downgraded shares of Canada Goose from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Robert W. Baird set a $11.41 price objective on shares of Canada Goose in a report on Friday. Barclays dropped their target price on shares of Canada Goose from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Evercore set a $10.00 target price on Canada Goose in a report on Friday, May 15th. Finally, Williams Trading downgraded Canada Goose from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Canada Goose presently has a consensus rating of “Reduce” and a consensus target price of $11.78.

Canada Goose Trading Up 0.6%

Shares of NYSE GOOS opened at $8.82 on Monday. Canada Goose has a 1-year low of $8.68 and a 1-year high of $15.40. The company has a market cap of $856.40 million, a PE ratio of 22.61 and a beta of 1.62. The company has a current ratio of 2.33, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $9.61 and a two-hundred day moving average of $10.81.

Canada Goose (NYSE:GOOS) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.06. The business had revenue of $83.71 million during the quarter, compared to analyst estimates of $76.34 million. Canada Goose had a net margin of 3.65% and a return on equity of 14.28%. Canada Goose’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. As a group, equities analysts expect that Canada Goose will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canada Goose

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Canada Goose by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 30,314 shares of the company’s stock valued at $392,000 after purchasing an additional 859 shares during the last quarter. Invesco Ltd. raised its stake in Canada Goose by 7.2% in the 2nd quarter. Invesco Ltd. now owns 15,124 shares of the company’s stock valued at $169,000 after acquiring an additional 1,012 shares during the period. National Bank of Canada FI boosted its position in Canada Goose by 6.4% during the third quarter. National Bank of Canada FI now owns 21,825 shares of the company’s stock worth $291,000 after purchasing an additional 1,320 shares during the period. Russell Investments Group Ltd. grew its stake in Canada Goose by 5.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 29,026 shares of the company’s stock valued at $324,000 after buying an additional 1,630 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Canada Goose by 30.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 8,035 shares of the company’s stock worth $105,000 after purchasing an additional 1,893 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

About Canada Goose

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.