G-III Apparel Group (NASDAQ:GIII) Downgraded by StockNews.com to “Hold”

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

Several other research analysts also recently weighed in on the company. Guggenheim assumed coverage on G-III Apparel Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target for the company. 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 research note on Friday, September 6th. Barclays upped their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, G-III Apparel Group has an average rating of “Hold” and a consensus target price of $30.00.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $30.60 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 8.01 and a beta of 2.19. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $35.68. The firm’s 50-day simple moving average is $29.64 and its two-hundred day simple moving average is $28.08.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS 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 company had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. During the same quarter in the previous year, the firm posted $0.40 EPS. G-III Apparel Group’s revenue was down 2.3% on a year-over-year basis. As a group, equities analysts forecast that G-III Apparel Group will post 4.01 earnings per share for the current year.

Insider Activity at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On G-III Apparel Group

A number of institutional investors have recently added to or reduced their stakes in the business. Guidance Capital Inc. grew its holdings in shares of G-III Apparel Group by 2.0% during the third quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker’s stock worth $563,000 after purchasing an additional 331 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after buying an additional 482 shares in the last quarter. Mutual Advisors LLC grew its stake in G-III Apparel Group by 1.0% in the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock worth $1,431,000 after buying an additional 498 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock worth $1,023,000 after buying an additional 516 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in shares of G-III Apparel Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after buying an additional 572 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Company Profile

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.