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

Zacks Investment Research downgraded shares of Canada Goose (NYSE:GOOS) from a buy rating to a hold rating in a research report report published on Wednesday morning, 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 commented on GOOS. Barclays upgraded Canada Goose from an equal weight rating to an overweight rating and set a $56.00 target price on the stock in a research note on Thursday, January 6th. TD Securities upgraded Canada Goose from a hold rating to a buy rating and cut their target price for the company from $60.00 to $59.00 in a research note on Wednesday, January 5th. UBS Group cut Canada Goose from a buy rating to a neutral rating and lowered their price target for the company from $59.00 to $35.00 in a report on Friday, January 7th. Credit Suisse Group increased their price target on Canada Goose from C$68.00 to C$70.00 and gave the company an outperform rating in a report on Monday, November 8th. Finally, CIBC cut Canada Goose from an outperform rating to a neutral rating in a report on Monday, November 8th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $57.70.

Shares of GOOS opened at $32.33 on Wednesday. The business’s fifty day simple moving average is $41.03 and its two-hundred day simple moving average is $40.11. The company has a current ratio of 2.19, a quick ratio of 0.86 and a debt-to-equity ratio of 0.99. Canada Goose has a 12 month low of $31.30 and a 12 month high of $53.64. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 80.83, a P/E/G ratio of 1.01 and a beta of 1.51.

Canada Goose (NYSE:GOOS) last issued its earnings results on Friday, November 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.18. Canada Goose had a return on equity of 13.63% and a net margin of 5.98%. The business had revenue of $232.90 million for the quarter, compared to the consensus estimate of $205.95 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was up 19.6% compared to the same quarter last year. As a group, research analysts forecast that Canada Goose will post 1.06 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Canada Goose by 48.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 98,209 shares of the company’s stock worth $4,292,000 after purchasing an additional 32,056 shares during the period. Renaissance Technologies LLC raised its holdings in Canada Goose by 178.0% in the 2nd quarter. Renaissance Technologies LLC now owns 376,100 shares of the company’s stock worth $16,451,000 after purchasing an additional 240,800 shares during the period. CIBC Asset Management Inc raised its holdings in Canada Goose by 8.9% in the 2nd quarter. CIBC Asset Management Inc now owns 78,763 shares of the company’s stock worth $3,440,000 after purchasing an additional 6,463 shares during the period. Toronto Dominion Bank raised its holdings in Canada Goose by 7.1% in the 2nd quarter. Toronto Dominion Bank now owns 33,219 shares of the company’s stock worth $1,452,000 after purchasing an additional 2,199 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Canada Goose by 1.8% during the third quarter. Mackenzie Financial Corp now owns 255,995 shares of the company’s stock valued at $9,126,000 after acquiring an additional 4,577 shares during the period. 44.97% of the stock is currently owned by institutional investors.

Canada Goose Company Profile

Canada Goose Holdings, Inc engages in the design, manufacture, distribution, and retail of outerwear for men, women, and children. It operates through the following segments: Direct-to-Consumer, Wholesale, and Other. The Direct-to-Consumer segment comprises of sales through country-specific e-Commerce platforms and its company-owned retail stores located in luxury shopping locations.

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