Guess? (GES) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Guess? (NYSE:GES) from a hold rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $18.00 target price on the stock.
According to Zacks, “Guess? has surpassed the industry in a year, courtesy of its solid earnings susprise history. Evidently, the third quarter of fiscal 2018 marked its third straight earnings beat. During the quarter, the company’s performance gained from continued strength in European and Asia business segments. The regions have been depicting robust growth backed by store openings, positive comps and wholesale growth. Driven by such upsides, management raised fiscal 2018 earnings view. Also, management is optimistic about e-commerce business that has been improving steadily. However, Guess? has been facing a tough retail environment in the Americas, due to lower consumer spending. As a result, the company has resorted to store closures in these regions to focus on other prospective areas. Also, the company remains exposed to the unfavorable currency fluctuations. Nevertheless, estimates climbed upward by a notch lately ahead of its earnings release.”
A number of other equities analysts also recently weighed in on GES. B. Riley reaffirmed a buy rating on shares of Guess? in a research report on Wednesday, November 1st. KeyCorp reaffirmed a sector weight rating on shares of Guess? in a research report on Tuesday, February 20th. Finally, Cowen reaffirmed a hold rating and set a $17.00 price target on shares of Guess? in a research report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Guess? has a consensus rating of Hold and a consensus price target of $15.10.
In other news, Director Kay Isaacson-Leibowitz sold 4,000 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $17.73, for a total value of $70,920.00. Following the completion of the sale, the director now owns 38,433 shares of the company’s stock, valued at approximately $681,417.09. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 29.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new stake in shares of Guess? in the 3rd quarter valued at approximately $1,767,000. Contrarius Investment Management Ltd boosted its holdings in shares of Guess? by 7.0% in the 3rd quarter. Contrarius Investment Management Ltd now owns 1,087,507 shares of the company’s stock valued at $18,520,000 after buying an additional 71,204 shares during the last quarter. Majedie Asset Management Ltd acquired a new stake in shares of Guess? in the 3rd quarter valued at approximately $12,333,000. WINTON GROUP Ltd acquired a new stake in shares of Guess? in the 3rd quarter valued at approximately $2,310,000. Finally, Smith Graham & Co. Investment Advisors LP boosted its holdings in shares of Guess? by 11.5% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 312,514 shares of the company’s stock valued at $5,275,000 after buying an additional 32,310 shares during the last quarter. 79.12% of the stock is owned by institutional investors.
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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.
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