Zacks Investment Research Downgrades Canada Goose Holdings Inc. (GOOS) to Hold

Canada Goose Holdings Inc. (NYSE:GOOS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Canada Goose is a global outerwear brand. Canada Goose is a designer, manufacturer, distributor and retailer of premium outerwear for men, women and children. The Company’s jackets are sold in 36 countries around the world, including in two owned retail stores and four e-commerce stores. “

Several other analysts have also recently commented on GOOS. Barclays PLC reiterated an “overweight” rating and issued a $19.00 price target on shares of Canada Goose Holdings in a research note on Tuesday, May 30th. ValuEngine cut shares of Canada Goose Holdings from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. Wells Fargo & Company reiterated an “outperform” rating and issued a $32.00 price target on shares of Canada Goose Holdings in a research note on Monday, June 5th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $22.00 price target (up previously from $20.00) on shares of Canada Goose Holdings in a research note on Monday, June 5th. Finally, Robert W. Baird reiterated a “neutral” rating on shares of Canada Goose Holdings in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of C$26.73.

Shares of Canada Goose Holdings (NYSE GOOS) opened at 19.62 on Monday. The firm’s 50-day moving average price is $18.55 and its 200-day moving average price is $18.26. Canada Goose Holdings has a 52-week low of $15.20 and a 52-week high of $24.32. The stock has a market cap of $2.10 billion and a P/E ratio of 109.00.

Canada Goose Holdings (NYSE:GOOS) last announced its quarterly earnings results on Thursday, August 10th. The company reported C($0.10) EPS for the quarter, topping the consensus estimate of C($0.15) by C$0.05. The company had revenue of C$28.20 million during the quarter, compared to analysts’ expectations of C$16.50 million. The company’s quarterly revenue was up 79.6% on a year-over-year basis. Equities analysts predict that Canada Goose Holdings will post $0.45 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC raised its position in shares of Canada Goose Holdings by 58.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,208,283 shares of the company’s stock valued at $43,614,000 after buying an additional 812,532 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Canada Goose Holdings during the 2nd quarter valued at about $429,000. Tower Research Capital LLC TRC purchased a new stake in shares of Canada Goose Holdings during the 2nd quarter valued at about $295,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Canada Goose Holdings during the 2nd quarter valued at about $127,000. Finally, Point72 Europe London LLP purchased a new stake in shares of Canada Goose Holdings during the 2nd quarter valued at about $2,963,000. Hedge funds and other institutional investors own 26.23% of the company’s stock.

About Canada Goose Holdings

Canada Goose Holdings Inc designs, manufactures, and sells premium outdoor apparel for men, women, youth, children, and babies in Canada, the United States, and internationally. The company operates in two segments, Wholesale and Direct to Consumer. It offers parkas, jackets, shells, vests, knitwear, and accessories for fall, winter, and spring seasons.

Analyst Recommendations for Canada Goose Holdings (NYSE:GOOS)

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