G-III Apparel Group (NASDAQ:GIII) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

GIII has been the topic of several other reports. BTIG Research restated a “buy” rating and set a $34.00 price target on shares of G-III Apparel Group in a report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of G-III Apparel Group in a research report on Friday, January 9th. KeyCorp reissued an “overweight” rating and set a $35.00 target price (up from $33.00) on shares of G-III Apparel Group in a report on Wednesday, December 10th. UBS Group decreased their price target on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price target (down from $34.00) on shares of G-III Apparel Group in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.00.

G-III Apparel Group Stock Up 1.1%

NASDAQ GIII opened at $26.05 on Tuesday. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 17.37 and a beta of 1.29. G-III Apparel Group has a twelve month low of $20.33 and a twelve month high of $34.83. The business’s fifty day moving average is $29.66 and its 200 day moving average is $28.74.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, March 12th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.29). The firm had revenue of $771.49 million during the quarter, compared to analyst estimates of $791.98 million. G-III Apparel Group had a return on equity of 6.73% and a net margin of 2.28%.G-III Apparel Group’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. G-III Apparel Group has set its Q1 2027 guidance at -0.400–0.300 EPS and its FY 2027 guidance at 2.000-2.100 EPS. On average, research analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

G-III Apparel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, March 23rd. G-III Apparel Group’s dividend payout ratio (DPR) is 26.67%.

Institutional Trading of G-III Apparel Group

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC increased its position in G-III Apparel Group by 6.1% during the 2nd quarter. Intech Investment Management LLC now owns 48,866 shares of the textile maker’s stock valued at $1,095,000 after purchasing an additional 2,790 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of G-III Apparel Group by 62.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 86,477 shares of the textile maker’s stock worth $2,301,000 after purchasing an additional 33,365 shares during the period. LSV Asset Management lifted its position in shares of G-III Apparel Group by 34.7% in the 3rd quarter. LSV Asset Management now owns 1,144,233 shares of the textile maker’s stock worth $30,448,000 after purchasing an additional 294,732 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of G-III Apparel Group in the 3rd quarter valued at $5,878,000. Finally, Cerity Partners LLC bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at $9,313,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.