Canada Goose (NYSE:GOOS) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Canada Goose Holdings Inc. (NYSE:GOOS)’s share price crossed 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 traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird set a $11.41 price target on Canada Goose in a research note on Friday, July 31st. TD Cowen upped their target price on Canada Goose from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Evercore set a $10.00 price target on shares of Canada Goose in a research note on Friday, May 15th. Williams Trading lowered shares of Canada Goose from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Finally, UBS Group decreased their price objective on shares of Canada Goose from $12.00 to $10.50 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $11.78.

Canada Goose Stock Performance

The company has a market cap of $829.58 million, a price-to-earnings ratio of 21.90, a PEG ratio of 0.55 and a beta of 1.62. The firm’s 50 day simple moving average is $9.30 and its 200-day simple moving average is $10.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 2.33.

Canada Goose (NYSE:GOOS) last issued its earnings results on Thursday, July 30th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.06. The business had revenue of $83.71 million during the quarter, compared to analysts’ expectations of $76.34 million. Canada Goose had a net margin of 3.65% and a return on equity of 14.28%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. On average, sell-side analysts predict that Canada Goose Holdings Inc. will post 0.9 EPS for the current year.

Institutional Trading of Canada Goose

Several large investors have recently added to or reduced their stakes in GOOS. Penn Capital Management Company LLC purchased a new position in shares of Canada Goose during the 2nd quarter worth $247,000. Public Employees Retirement System of Ohio acquired a new stake in Canada Goose during the second quarter worth about $177,000. Royal Bank of Canada increased its position in Canada Goose by 4.2% during the first quarter. Royal Bank of Canada now owns 270,743 shares of the company’s stock worth $2,970,000 after purchasing an additional 11,015 shares during the last quarter. Clough Capital Partners L P purchased a new position in Canada Goose during the first quarter worth about $917,000. Finally, Lazard Asset Management LLC purchased a new position in Canada Goose during the first quarter worth about $160,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

About Canada Goose

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.