Zacks Investment Research Downgrades Guess?, Inc. (GES) to Hold

Guess?, Inc. (NYSE:GES) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Shares of Guess? have outperformed the industry over the past six months, primarily due to increased margins and revenues across most of its segments. Guess? has been mainly gaining from solid sales trends in its Europe and Asia segments, owing to new store openings. Management also remains optimistic about its e-Commerce business that has been improving steadily. These factors have led management to raise its view for fiscal 2018. Guess? has also been undertaking cost saving initiatives through improved supply chain management. Nevertheless, the company has been facing macroeconomic challenges in the U.S. and Canada, owing to lower consumer spending and has hence resorted to store closures in these regions. As a result the company has restricted its growth in these regions to focus on other prospective arenas. Owing to Guess?’ solid international presence, the company remains exposed to the unfavorable currency fluctuations.”

Several other brokerages have also issued reports on GES. Evercore ISI started coverage on shares of Guess? in a research note on Friday, August 25th. They issued a “buy” rating on the stock. Jefferies Group LLC set a $11.00 price target on shares of Guess? and gave the company a “hold” rating in a research note on Wednesday, August 16th. FBR & Co set a $16.00 price target on shares of Guess? and gave the company a “buy” rating in a research note on Saturday, July 22nd. Cowen and Company set a $14.00 price target on shares of Guess? and gave the company a “hold” rating in a research note on Thursday, August 24th. Finally, BidaskClub upgraded shares of Guess? from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $13.77.

Guess? (NYSE GES) traded down 3.17% during trading on Friday, hitting $16.47. 332,181 shares of the stock were exchanged. The stock has a 50 day moving average price of $16.33 and a 200-day moving average price of $13.26. The firm has a market capitalization of $1.37 billion, a PE ratio of 152.50 and a beta of 0.44. Guess? has a 12-month low of $9.56 and a 12-month high of $17.54.

Guess? (NYSE:GES) last posted its quarterly earnings data on Wednesday, August 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.10 by $0.09. The business had revenue of $573.69 million for the quarter, compared to analysts’ expectations of $559.82 million. Guess? had a net margin of 0.43% and a return on equity of 4.14%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities research analysts anticipate that Guess? will post $0.59 earnings per share for the current fiscal year.

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In other news, Director Kay Isaacson-Leibowitz sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $16.03, for a total transaction of $96,180.00. Following the transaction, the director now directly owns 42,433 shares in the company, valued at approximately $680,200.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.60% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in GES. Swiss National Bank increased its stake in shares of Guess? by 4.2% during the 1st quarter. Swiss National Bank now owns 104,300 shares of the company’s stock worth $1,163,000 after purchasing an additional 4,200 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Guess? by 77.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 77,947 shares of the company’s stock worth $869,000 after purchasing an additional 34,098 shares during the last quarter. Karp Capital Management Corp acquired a new position in shares of Guess? during the 1st quarter worth about $312,000. Ameriprise Financial Inc. increased its stake in shares of Guess? by 8.6% during the 1st quarter. Ameriprise Financial Inc. now owns 367,650 shares of the company’s stock worth $4,092,000 after purchasing an additional 29,059 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Guess? by 710.0% during the 1st quarter. JPMorgan Chase & Co. now owns 426,895 shares of the company’s stock worth $4,760,000 after purchasing an additional 374,191 shares during the last quarter. Institutional investors own 79.50% of the company’s stock.

Guess? Company Profile

Guess?, Inc designs, markets, distributes and licenses a lifestyle collections of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, Europe, Asia, Americas Wholesale and Licensing. The Americas Retail segment includes the Company’s retail and e-commerce operations in North and Central America and its retail operations in South America.

Analyst Recommendations for Guess? (NYSE:GES)

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