Canada Goose (NYSE:GOOS) Stock Price Breaks Below 50 Day Moving Average – Here’s Why

Shares of Canada Goose Holdings Inc. (NYSE:GOOS) crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $7.93 and traded as low as $7.64. Canada Goose shares last traded at $7.7850, with a volume of 1,368,301 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group lowered their target price on Canada Goose from $10.50 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday. Weiss Ratings downgraded shares of Canada Goose from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 22nd. Zacks Research upgraded shares of Canada Goose from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Robert W. Baird set a $11.41 price target on shares of Canada Goose in a report on Friday, July 31st. Finally, Williams Trading cut shares of Canada Goose from a “hold” rating to a “strong sell” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $11.48.

Canada Goose Stock Down 3.7%

The company has a market capitalization of $760.28 million, a price-to-earnings ratio of 19.96, a P/E/G ratio of 0.61 and a beta of 1.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.33 and a quick ratio of 0.97. The firm’s fifty day moving average price is $7.93 and its 200-day moving average price is $10.03.

Canada Goose (NYSE:GOOS) last released its quarterly earnings data 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 company 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%. Canada Goose’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Sell-side analysts expect that Canada Goose Holdings Inc. will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Canada Goose

A number of hedge funds have recently made changes to their positions in GOOS. Engineers Gate Manager LP grew its holdings in shares of Canada Goose by 36.7% during the second quarter. Engineers Gate Manager LP now owns 47,565 shares of the company’s stock worth $452,000 after purchasing an additional 12,775 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Canada Goose in the second quarter valued at approximately $367,000. Spark Investment Management LLC increased its stake in shares of Canada Goose by 52.6% in the second quarter. Spark Investment Management LLC now owns 58,000 shares of the company’s stock valued at $549,000 after buying an additional 20,000 shares during the period. Penn Capital Management Company LLC acquired a new position in shares of Canada Goose in the second quarter valued at approximately $247,000. Finally, Public Employees Retirement System of Ohio bought a new position in Canada Goose in the 2nd quarter valued at approximately $177,000. 83.64% of the stock is owned by institutional investors and hedge funds.

About Canada Goose

Canada Goose Holdings Inc designs, manufactures, and sells luxury apparel and accessories focused on cold-weather performance. Its product range includes parkas, jackets, vests, knitwear, footwear, gloves, hats, and other seasonal apparel for women, men, and children.

The company traces its origins to 1957, when Metro Sportswear was established in Toronto. It later adopted the Canada Goose name and built its reputation around insulated outerwear designed for harsh climates, combining technical materials and construction with premium fashion positioning.

Canada Goose sells its products through company-operated retail stores, e-commerce platforms, and select wholesale partners.