Canada Goose (NYSE:GOOS) Shares Gap Down – Here’s Why

Canada Goose Holdings Inc. (NYSE:GOOS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $11.24, but opened at $10.60. Canada Goose shares last traded at $10.68, with a volume of 194,077 shares traded.

Wall Street Analyst Weigh In

GOOS has been the subject of several research analyst reports. The Goldman Sachs Group restated a “sell” rating and issued a $9.00 price objective (down previously from $11.50) on shares of Canada Goose in a research note on Monday. Barclays cut their price target on Canada Goose from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Raymond James downgraded shares of Canada Goose from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company downgraded shares of Canada Goose from an “equal weight” rating to an “underweight” rating in a research report on Monday, October 14th. Finally, Wedbush assumed coverage on shares of Canada Goose in a report on Friday, July 19th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.80.

Canada Goose Stock Performance

The company has a current ratio of 2.14, a quick ratio of 0.63 and a debt-to-equity ratio of 1.25. The stock’s 50 day moving average price is $11.21 and its two-hundred day moving average price is $11.88. The firm has a market capitalization of $986.24 million, a price-to-earnings ratio of 27.73, a PEG ratio of 0.64 and a beta of 1.32.

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

Institutional Trading of Canada Goose

A number of institutional investors have recently bought and sold shares of GOOS. 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 worth $177,000 after buying an additional 2,002 shares in the last quarter. Claro Advisors LLC acquired a new stake in shares of Canada Goose in the first quarter valued at approximately $210,000. BNP Paribas Financial Markets grew 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 valued at $252,000 after purchasing an additional 19,953 shares during the last quarter. GAM Holding AG increased its stake in shares of Canada Goose by 50.9% during the 2nd quarter. GAM Holding AG now owns 25,000 shares of the company’s stock worth $323,000 after purchasing an additional 8,430 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Canada Goose during the 2nd quarter worth approximately $338,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

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.