G-III Apparel Group (NASDAQ:GIII) Stock Rating Lowered by StockNews.com

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

Other analysts have also issued reports about the stock. Barclays boosted 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 note on Friday, September 6th. Guggenheim began coverage on shares of G-III Apparel Group in a research report on Wednesday. They issued a “buy” rating and a $36.00 price objective for the company. KeyCorp raised 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 report on Friday, September 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

G-III Apparel Group Stock Performance

Shares of NASDAQ:GIII opened at $30.45 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.97 and a beta of 2.19. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The firm’s 50-day moving average is $28.27 and its 200 day moving average is $27.86.

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 for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Research analysts predict that G-III Apparel Group will post 4.01 EPS for the current year.

Insider Transactions at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group 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 transaction, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth $42,000. CWM LLC lifted its position in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after buying an additional 1,012 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at about $78,000. Innealta Capital LLC purchased a new position in shares of G-III Apparel Group in the 2nd quarter worth approximately $124,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of G-III Apparel Group during the 1st quarter worth approximately $171,000. Institutional investors own 92.13% of the company’s stock.

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.