Zacks Investment Research Lowers Canada Goose (NYSE:GOOS) to Hold

Canada Goose (NYSE:GOOS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “Canada Goose is a global outerwear brand. Canada Goose is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. The Company’s jackets are sold in 36 countries around the world, including in two owned retail stores and four e-commerce stores. “

Several other analysts also recently weighed in on GOOS. Credit Suisse Group decreased their target price on Canada Goose from $76.00 to $72.00 and set an “outperform” rating for the company in a research note on Thursday. HSBC assumed coverage on Canada Goose in a research note on Monday, May 20th. They set a “buy” rating and a $48.32 target price for the company. Wells Fargo & Co restated a “hold” rating on shares of Canada Goose in a research note on Thursday, May 30th. Bank of America downgraded Canada Goose from a “buy” rating to a “neutral” rating and set a $33.50 target price for the company. in a research note on Thursday, May 30th. Finally, DA Davidson increased their target price on Canada Goose from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $64.48.

NYSE:GOOS traded up $1.01 during mid-day trading on Monday, hitting $38.72. 1,350,700 shares of the company’s stock traded hands, compared to its average volume of 1,984,709. The firm has a 50 day moving average of $42.74 and a two-hundred day moving average of $46.68. Canada Goose has a 12 month low of $31.67 and a 12 month high of $72.27. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 37.96, a price-to-earnings-growth ratio of 1.05 and a beta of 3.03. The company has a current ratio of 3.38, a quick ratio of 1.07 and a debt-to-equity ratio of 1.47.

Canada Goose (NYSE:GOOS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Canada Goose had a return on equity of 41.47% and a net margin of 15.60%. The firm had revenue of $71.10 million during the quarter, compared to the consensus estimate of $54.38 million. During the same quarter in the prior year, the company earned ($0.16) EPS. The firm’s revenue for the quarter was up 59.1% compared to the same quarter last year. As a group, equities research analysts expect that Canada Goose will post 1.26 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in GOOS. Griffin Asset Management Inc. increased its holdings in Canada Goose by 16.3% during the 2nd quarter. Griffin Asset Management Inc. now owns 76,625 shares of the company’s stock valued at $2,968,000 after purchasing an additional 10,755 shares in the last quarter. Royal Bank of Canada increased its holdings in Canada Goose by 23.8% during the 2nd quarter. Royal Bank of Canada now owns 383,094 shares of the company’s stock valued at $14,837,000 after purchasing an additional 73,721 shares in the last quarter. UBS Group AG increased its stake in shares of Canada Goose by 280.7% in the 2nd quarter. UBS Group AG now owns 203,595 shares of the company’s stock valued at $7,885,000 after buying an additional 316,293 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Canada Goose by 25.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,958 shares of the company’s stock valued at $269,000 after buying an additional 1,407 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in shares of Canada Goose in the 2nd quarter valued at $6,386,000. Institutional investors own 52.24% of the company’s stock.

Canada Goose Company Profile

Canada Goose Holdings Inc designs, manufactures, and sells premium outdoor apparel for men, women, youth, children, and babies. The company operates in two segments, Wholesale and Direct to Consumer. It offers parkas, jackets, shells, vests, knitwear, and accessories for fall, winter, and spring seasons.

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