Canada Goose (NYSE:GOOS) Reaches New 12-Month Low – Here’s Why

Canada Goose Holdings Inc. (NYSE:GOOS)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $9.28 and last traded at $9.29, with a volume of 35692 shares. The stock had previously closed at $9.44.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOS shares. UBS Group lowered their target price on Canada Goose from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Barclays lowered their price objective on Canada Goose from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Raymond James lowered shares of Canada Goose from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 23rd. Wells Fargo & Company downgraded shares of Canada Goose from an “equal weight” rating to an “underweight” rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $9.00 price objective (down from $11.50) on shares of Canada Goose in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.80.

Canada Goose Trading Down 1.9 %

The firm has a market cap of $896.28 million, a P/E ratio of 25.50, a P/E/G ratio of 0.57 and a beta of 1.35. The stock has a 50 day simple moving average of $10.68 and a 200-day simple moving average of $11.68. The company has a current ratio of 1.85, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21.

Institutional Investors Weigh In On Canada Goose

A number of hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Canada Goose by 17.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,725 shares of the company’s stock valued at $177,000 after purchasing an additional 2,002 shares during the last quarter. BNP Paribas Financial Markets grew its position in Canada Goose by 193.8% in the third quarter. BNP Paribas Financial Markets now owns 3,164 shares of the company’s stock worth $40,000 after acquiring an additional 2,087 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in Canada Goose by 0.5% during the first quarter. Silvercrest Asset Management Group LLC now owns 605,050 shares of the company’s stock worth $7,297,000 after acquiring an additional 2,752 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Canada Goose by 0.6% during the third quarter. Pinnacle Associates Ltd. now owns 602,341 shares of the company’s stock valued at $7,138,000 after purchasing an additional 3,338 shares during the period. Finally, Strategic Wealth Partners Ltd. raised its position in Canada Goose by 10.0% during the first quarter. Strategic Wealth Partners Ltd. now owns 71,126 shares of the company’s stock valued at $858,000 after purchasing an additional 6,442 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

About Canada Goose

Canada Goose Holdings Inc, together with its subsidiaries, designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other.