G-III Apparel Group (NASDAQ:GIII) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research report report published on Saturday.

Several other research firms have also recently commented on GIII. KeyCorp restated an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. BTIG Research boosted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Zacks Research cut shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, G-III Apparel Group presently has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Price Performance

NASDAQ GIII opened at $33.77 on Friday. G-III Apparel Group has a 1 year low of $24.61 and a 1 year high of $37.54. The stock has a market capitalization of $1.42 billion, a PE ratio of 11.93 and a beta of 1.28. The company’s 50 day simple moving average is $34.76 and its two-hundred day simple moving average is $31.62.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. The firm had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. On average, research analysts anticipate that G-III Apparel Group will post 2.24 EPS for the current year.

G-III Apparel Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 22nd were given a $0.10 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.40 annualized dividend and a yield of 1.2%. G-III Apparel Group’s payout ratio is 14.13%.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds and other institutional investors have recently modified their holdings of GIII. Raymond James Financial Inc. bought a new position in shares of G-III Apparel Group during the 2nd quarter valued at about $41,000. Allworth Financial LP bought a new stake in G-III Apparel Group in the 2nd quarter worth approximately $50,000. Parallel Advisors LLC boosted its stake in G-III Apparel Group by 231.9% in the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after buying an additional 1,243 shares in the last quarter. Strs Ohio purchased a new stake in G-III Apparel Group in the first quarter worth approximately $77,000. Finally, State of Wyoming bought a new position in G-III Apparel Group during the second quarter valued at approximately $80,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

About G-III Apparel Group

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.