Canada Goose (NYSE:GOOS) Hits New 52-Week Low – Time to Sell?

Canada Goose Holdings Inc. (NYSE:GOOS)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $9.28 and last traded at $9.29, with a volume of 35692 shares traded. The stock had previously closed at $9.44.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOS. The Goldman Sachs Group reiterated a “sell” rating and issued a $9.00 price objective (down previously from $11.50) on shares of Canada Goose in a research report on Monday, October 21st. Barclays lowered their price target on shares of Canada Goose from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. UBS Group cut their price target on shares of Canada Goose from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company cut shares of Canada Goose from an “equal weight” rating to an “underweight” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Canada Goose presently has a consensus rating of “Hold” and an average price target of $11.80.

Canada Goose Stock Performance

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.71 and a current ratio of 1.85. The firm has a market capitalization of $902.57 million, a PE ratio of 25.20, a P/E/G ratio of 0.57 and a beta of 1.35. The stock’s 50-day simple moving average is $10.64 and its 200-day simple moving average is $11.65.

Hedge Funds Weigh In On Canada Goose

A number of institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Canada Goose by 17.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,725 shares of the company’s stock valued at $177,000 after buying an additional 2,002 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Canada Goose by 193.8% in the third quarter. BNP Paribas Financial Markets now owns 3,164 shares of the company’s stock worth $40,000 after purchasing an additional 2,087 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Canada Goose by 0.5% during the first quarter. Silvercrest Asset Management Group LLC now owns 605,050 shares of the company’s stock valued at $7,297,000 after buying an additional 2,752 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Canada Goose by 0.6% in the third quarter. Pinnacle Associates Ltd. now owns 602,341 shares of the company’s stock worth $7,138,000 after acquiring an additional 3,338 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. boosted its holdings in Canada Goose by 10.0% in the first quarter. Strategic Wealth Partners Ltd. now owns 71,126 shares of the company’s stock worth $858,000 after acquiring an additional 6,442 shares in the last quarter. 83.64% of the stock is owned by institutional investors.

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.