Canada Goose (NYSE:GOOS) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of Canada Goose Holdings Inc. (NYSE:GOOS) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.30 and traded as low as $8.42. Canada Goose shares last traded at $8.54, with a volume of 787,831 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOS. Barclays dropped their target price on Canada Goose from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, May 15th. Wall Street Zen downgraded shares of Canada Goose from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. TD Cowen increased their price objective on shares of Canada Goose from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Evercore set a $10.00 target price on shares of Canada Goose in a research note on Friday, May 15th. Finally, Robert W. Baird set a $11.41 target price on shares of Canada Goose in a research report on Friday, July 31st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $11.78.

Canada Goose Stock Up 2.3%

The stock has a market cap of $849.98 million, a PE ratio of 22.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.62. The company has a current ratio of 2.33, a quick ratio of 0.97 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $9.27 and a 200-day moving average price of $10.46.

Canada Goose (NYSE:GOOS) last released its earnings results on Thursday, July 30th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.06. The business had revenue of $83.71 million for the quarter, compared to the consensus estimate of $76.34 million. Canada Goose had a return on equity of 14.28% and a net margin of 3.65%.The business’s quarterly revenue 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, analysts forecast that Canada Goose Holdings Inc. will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Canada Goose

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in shares of Canada Goose by 47.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 568,377 shares of the company’s stock worth $6,233,000 after purchasing an additional 182,916 shares during the last quarter. Kessler Investment Group LLC grew its stake in Canada Goose by 126.8% during the 4th quarter. Kessler Investment Group LLC now owns 678,892 shares of the company’s stock worth $8,792,000 after buying an additional 379,516 shares during the last quarter. Simcoe Capital LLC purchased a new position in shares of Canada Goose during the fourth quarter worth approximately $2,649,000. Clough Capital Partners L P acquired a new position in Canada Goose in the first quarter valued at $917,000. Finally, CenterBook Partners LP acquired a new position in Canada Goose in the 4th quarter valued at about $5,363,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Canada Goose Company Profile

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.