G-III Apparel Group (NASDAQ:GIII) Cut 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 report sent to investors on Thursday.

A number of other brokerages have also recently weighed in on GIII. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Barclays lifted their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. KeyCorp raised their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Guggenheim boosted 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 research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.17.

G-III Apparel Group Trading Down 2.5 %

Shares of G-III Apparel Group stock opened at $31.40 on Thursday. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The business’s fifty day moving average is $31.88 and its two-hundred day moving average is $29.50. The company has a quick ratio of 1.80, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.38 billion, a PE ratio of 8.24 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. G-III Apparel Group’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.78 earnings per share. Analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current year.

Institutional Investors Weigh In On G-III Apparel Group

Large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in G-III Apparel Group in the 2nd quarter worth $42,000. Quarry LP acquired a new position in shares of G-III Apparel Group in the third quarter worth about $63,000. CWM LLC boosted its holdings in G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 885 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in G-III Apparel Group during the 2nd quarter valued at approximately $78,000. Finally, Point72 Hong Kong Ltd purchased a new stake in G-III Apparel Group during the 3rd quarter worth approximately $152,000. 92.13% of the stock is owned by institutional investors and hedge funds.

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.