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

StockNews.com downgraded 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 brokerages have also weighed in on GIII. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. KeyCorp raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Guggenheim began coverage on G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, 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 research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.00.

G-III Apparel Group Stock Down 1.7 %

NASDAQ:GIII opened at $31.34 on Tuesday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 8.20 and a beta of 2.19. 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 stock’s fifty day moving average price is $29.18 and its two-hundred day moving average price is $28.01. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.25. The business had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, analysts anticipate that G-III Apparel Group will post 4.01 EPS 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 firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.40% of the stock is owned by insiders.

Institutional Trading of G-III Apparel Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of G-III Apparel Group during the second quarter worth about $42,000. CWM LLC boosted its position in G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of G-III Apparel Group during the 2nd quarter worth approximately $78,000. Innealta Capital LLC bought a new position in shares of G-III Apparel Group during the 2nd quarter worth approximately $124,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of G-III Apparel Group in the first quarter valued at approximately $171,000. Institutional investors and hedge funds 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.