G-III Apparel Group (NASDAQ:GIII) Downgraded by StockNews.com

StockNews.com cut shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a report released on Saturday.

Several other equities research analysts also recently commented on the company. Barclays boosted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an underweight rating in a report on Friday, September 6th. Telsey Advisory Group reissued a market perform rating and set a $29.00 price objective on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, KeyCorp lifted their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an overweight rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $28.80.

G-III Apparel Group Stock Up 1.0 %

NASDAQ:GIII opened at $32.06 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 2.62. The firm’s 50-day moving average price is $26.69 and its 200-day moving average price is $27.61. The company has a market capitalization of $1.44 billion, a PE ratio of 8.39 and a beta of 2.19. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. On average, equities analysts predict that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of G-III Apparel Group by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after purchasing an additional 292,668 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of G-III Apparel Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after buying an additional 151,425 shares during the period. American Century Companies Inc. boosted its stake in shares of G-III Apparel Group by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock worth $31,054,000 after buying an additional 155,079 shares during the last quarter. LSV Asset Management grew its holdings in shares of G-III Apparel Group by 0.6% in the second quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock worth $23,055,000 after acquiring an additional 5,200 shares during the period. Finally, Marshall Wace LLP increased its position in G-III Apparel Group by 142.8% during the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after acquiring an additional 206,993 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.