UBS Group Cuts Canada Goose (NYSE:GOOS) Price Target to $12.00

Canada Goose (NYSE:GOOS) had its target price cut by equities researchers at UBS Group from $13.00 to $12.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 16.96% from the stock’s previous close.

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

Canada Goose Stock Performance

Shares of GOOS traded down $0.19 during mid-day trading on Tuesday, hitting $10.26. The company’s stock had a trading volume of 234,394 shares, compared to its average volume of 918,832. Canada Goose has a one year low of $9.80 and a one year high of $14.75. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.63 and a current ratio of 2.14. The firm has a market capitalization of $990.58 million, a PE ratio of 27.73, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The stock’s 50-day moving average is $11.21 and its two-hundred day moving average is $11.89.

Canada Goose (NYSE:GOOS) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate 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 return on equity of 25.63% and a net margin of 4.66%. As a group, sell-side analysts anticipate that Canada Goose will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP raised its stake in Canada Goose by 8.1% during the second quarter. Marshall Wace LLP now owns 1,087,414 shares of the company’s stock worth $14,060,000 after acquiring an additional 81,090 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Canada Goose by 0.5% during the first quarter. Silvercrest Asset Management Group LLC now owns 605,050 shares of the company’s stock worth $7,297,000 after purchasing an additional 2,752 shares during the last quarter. Armistice Capital LLC bought a new stake in shares of Canada Goose during the second quarter worth $4,332,000. Raymond James & Associates grew its holdings in shares of Canada Goose by 55.1% during the third quarter. Raymond James & Associates now owns 333,064 shares of the company’s stock worth $4,173,000 after purchasing an additional 118,291 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Canada Goose by 15.5% during the second quarter. TD Asset Management Inc now owns 147,452 shares of the company’s stock worth $1,906,000 after purchasing an additional 19,761 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.