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

G-III Apparel Group (NASDAQ:GIII) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

GIII has been the subject of a number of other research reports. KeyCorp lifted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. UBS Group decreased their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Barclays lifted their price target on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Guggenheim raised their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. Two equities 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 company. Based on data from MarketBeat.com, G-III Apparel Group has a consensus rating of “Hold” and an average target price of $33.33.

G-III Apparel Group Stock Up 3.0 %

Shares of G-III Apparel Group stock opened at $26.10 on Wednesday. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18. The company has a 50 day moving average of $29.68 and a 200 day moving average of $30.48. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.15 billion, a P/E ratio of 6.85 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts forecast that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors have recently modified their holdings of the business. AlphaQuest LLC acquired a new position in shares of G-III Apparel Group in the 4th quarter valued at $49,000. Quarry LP acquired a new position in shares of G-III Apparel Group in the 3rd quarter valued at $63,000. Smartleaf Asset Management LLC increased its holdings in shares of G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of G-III Apparel Group in the 4th quarter valued at $68,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of G-III Apparel Group by 93.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after acquiring an additional 1,460 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

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.