Canada Goose (NYSE:GOOS) Shares Gap Down Following Weak Earnings

Shares of Canada Goose Holdings Inc. (NYSE:GOOS) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $14.15, but opened at $12.26. Canada Goose shares last traded at $11.8480, with a volume of 604,686 shares changing hands.

The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). Canada Goose had a return on equity of 14.87% and a net margin of 1.96%.The business had revenue of $195.63 million for the quarter, compared to the consensus estimate of $274.05 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 1.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GOOS shares. Wells Fargo & Company raised Canada Goose from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 1st. Cowen raised Canada Goose from a “hold” rating to a “buy” rating in a research note on Monday, September 8th. Robert W. Baird set a $28.00 price objective on Canada Goose in a research note on Thursday, August 28th. Baird R W upgraded Canada Goose from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, TD Cowen raised shares of Canada Goose from a “hold” rating to a “buy” rating and increased their target price for the company from $16.00 to $18.00 in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.33.

Hedge Funds Weigh In On Canada Goose

Institutional investors and hedge funds have recently made changes to their positions in the stock. MQS Management LLC acquired a new stake in shares of Canada Goose in the 1st quarter valued at about $86,000. TD Asset Management Inc grew its stake in Canada Goose by 3.3% in the first quarter. TD Asset Management Inc now owns 51,512 shares of the company’s stock valued at $408,000 after acquiring an additional 1,656 shares during the period. Mackenzie Financial Corp grew its stake in Canada Goose by 8.7% in the first quarter. Mackenzie Financial Corp now owns 23,223 shares of the company’s stock valued at $184,000 after acquiring an additional 1,864 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Canada Goose by 62.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,693 shares of the company’s stock valued at $180,000 after acquiring an additional 8,690 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Canada Goose during the first quarter worth approximately $267,000. Institutional investors own 83.64% of the company’s stock.

Canada Goose Trading Up 3.2%

The business has a fifty day moving average of $13.67 and a 200-day moving average of $12.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.89 and a current ratio of 2.02. The company has a market capitalization of $1.22 billion, a P/E ratio of 69.97, a PEG ratio of 1.11 and a beta of 1.64.

Canada Goose Company Profile

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.