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

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

A number of other analysts have also weighed in on GIII. Barclays raised their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research 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 report on Thursday, September 5th. Finally, KeyCorp upped their target price on 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 research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.80.

G-III Apparel Group Trading Up 3.7 %

Shares of GIII opened at $31.19 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 2.92. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 8.16 and a beta of 2.19. The business’s fifty day moving average is $26.58 and its 200-day moving average is $27.62.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The firm had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Equities analysts anticipate that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GIII. Texas Permanent School Fund Corp grew its position in shares of 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 valued at $1,033,000 after buying an additional 482 shares during the last quarter. Mutual Advisors LLC increased its position in G-III Apparel Group by 1.0% during the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after purchasing an additional 498 shares during the period. SummerHaven Investment Management LLC raised its holdings in G-III Apparel Group by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock worth $1,023,000 after purchasing an additional 516 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of G-III Apparel Group by 1.1% in the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after purchasing an additional 532 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after purchasing an additional 572 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

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.