G-III Apparel Group (NASDAQ:GIII) Downgraded by StockNews.com

StockNews.com lowered shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a report published on Saturday.

A number of other equities analysts have also recently weighed in on the stock. Telsey Advisory Group reaffirmed a market perform rating and set a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp upped their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an overweight rating in a research note on Friday, September 6th. Finally, Barclays increased their price objective 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $28.80.

G-III Apparel Group Stock Up 1.8 %

GIII stock opened at $31.74 on Friday. The company has a fifty day moving average price of $26.69 and a 200 day moving average price of $27.61. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 8.31 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 2.62.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. The company had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. G-III Apparel Group’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Sell-side analysts expect that G-III Apparel Group will post 4.01 earnings per share for the current year.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new stake in shares of G-III Apparel Group during the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $42,000. CWM LLC lifted its holdings in shares of 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 period. Quest Partners LLC purchased a new position in shares of G-III Apparel Group during the 4th quarter worth about $56,000. Finally, Point72 DIFC Ltd purchased a new position in shares of G-III Apparel Group during the 2nd quarter worth about $78,000. 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.