Canada Goose (NYSE:GOOS) Downgraded to Strong Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Canada Goose (NYSE:GOOS) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning, 24/7 WallStreet 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. “

A number of other equities analysts have also recently issued reports on the stock. Barclays started coverage on shares of Canada Goose in a research report on Monday, November 25th. They set an overweight rating and a $47.00 price objective for the company. ValuEngine upgraded shares of Canada Goose from a hold rating to a buy rating in a research report on Friday, January 10th. TD Securities upgraded shares of Canada Goose from a hold rating to a buy rating in a research report on Friday, January 3rd. Credit Suisse Group reiterated an outperform rating and set a $62.00 price objective (down from $72.00) on shares of Canada Goose in a research report on Thursday, November 14th. Finally, DA Davidson lowered their price objective on shares of Canada Goose from $42.00 to $38.00 and set a neutral rating for the company in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Canada Goose presently has a consensus rating of Buy and a consensus price target of $45.48.

GOOS stock traded down $0.01 during trading on Tuesday, reaching $34.44. 2,171,834 shares of the company were exchanged, compared to its average volume of 2,616,820. The company has a 50-day moving average of $37.03 and a two-hundred day moving average of $39.68. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 33.76, a P/E/G ratio of 1.25 and a beta of 2.93. Canada Goose has a twelve month low of $31.67 and a twelve month high of $59.94. The company has a debt-to-equity ratio of 1.32, a current ratio of 2.89 and a quick ratio of 1.10.

Canada Goose (NYSE:GOOS) last released its quarterly earnings data on Wednesday, November 13th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.22. The business had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $267.29 million. Canada Goose had a net margin of 15.66% and a return on equity of 41.67%. The firm’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS. On average, analysts forecast that Canada Goose will post 1.26 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOS. Select Equity Group L.P. increased its position in Canada Goose by 504.7% in the 3rd quarter. Select Equity Group L.P. now owns 4,210,314 shares of the company’s stock valued at $185,128,000 after acquiring an additional 3,514,101 shares during the period. Broad Peak Investment Holdings Ltd. acquired a new position in Canada Goose in the 3rd quarter valued at approximately $35,653,000. BlackRock Inc. increased its position in Canada Goose by 50.7% in the 2nd quarter. BlackRock Inc. now owns 1,466,426 shares of the company’s stock valued at $56,795,000 after acquiring an additional 493,507 shares during the period. Invesco Ltd. boosted its stake in shares of Canada Goose by 1,096.9% in the 2nd quarter. Invesco Ltd. now owns 493,936 shares of the company’s stock valued at $19,129,000 after purchasing an additional 452,669 shares during the last quarter. Finally, UBS Group AG boosted 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 purchasing an additional 316,293 shares during the last quarter. Hedge funds and other institutional investors own 56.74% of the company’s stock.

About Canada Goose

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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