Wells Fargo & Company Downgrades Canada Goose (NYSE:GOOS) to Underweight

Canada Goose (NYSE:GOOS) was downgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued on Monday, Marketbeat.com reports.

A number of other analysts also recently commented on GOOS. UBS Group dropped their price target on shares of Canada Goose from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays dropped their target price on Canada Goose from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Raymond James downgraded Canada Goose from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 23rd. Finally, Wedbush began coverage on Canada Goose in a research report on Friday, July 19th. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.07.

Canada Goose Stock Performance

Shares of GOOS stock opened at $10.76 on Monday. The business has a 50 day simple moving average of $11.16 and a 200 day simple moving average of $11.90. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.14 and a quick ratio of 0.63. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. Canada Goose has a 12-month low of $9.80 and a 12-month high of $14.75.

Canada Goose (NYSE:GOOS) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.02. Canada Goose had a return on equity of 25.63% and a net margin of 4.66%. The company had revenue of $64.39 million during the quarter, compared to analysts’ expectations of $63.47 million. On average, equities research analysts anticipate that Canada Goose will post 0.84 EPS for the current year.

Hedge Funds Weigh In On Canada Goose

A number of hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Canada Goose by 17.1% in the 2nd 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 period. Claro Advisors LLC acquired a new position in shares of Canada Goose in the first quarter worth about $210,000. BNP Paribas Financial Markets increased its position in shares of Canada Goose by 2,048.6% in the first quarter. BNP Paribas Financial Markets now owns 20,927 shares of the company’s stock worth $252,000 after acquiring an additional 19,953 shares in the last quarter. GAM Holding AG raised its holdings in shares of Canada Goose by 50.9% during the second quarter. GAM Holding AG now owns 25,000 shares of the company’s stock valued at $323,000 after acquiring an additional 8,430 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Canada Goose in the 2nd quarter valued at approximately $338,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.