G-III Apparel Group (NASDAQ:GIII) Downgraded to “Hold” Rating by Zacks Research

G-III Apparel Group (NASDAQ:GIII) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on GIII. Wall Street Zen raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Telsey Advisory Group reissued 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 upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a report on Friday, June 5th. Weiss Ratings upgraded shares of G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Finally, UBS Group reduced their target price on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock opened at $35.21 on Tuesday. The stock has a market cap of $1.49 billion, a P/E ratio of 12.44 and a beta of 1.28. The stock’s 50 day simple moving average is $32.80 and its 200-day simple moving average is $30.67. G-III Apparel Group has a 1-year low of $22.91 and a 1-year high of $36.53.

G-III Apparel Group (NASDAQ:GIII) last posted 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. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The firm had revenue of $535.96 million during the quarter, compared to analysts’ expectations of $529.07 million. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. 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. As a group, research analysts expect that G-III Apparel Group will post 2.24 EPS for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in G-III Apparel Group in the 4th quarter valued at about $36,200,000. Balyasny Asset Management L.P. purchased a new position in G-III Apparel Group during the second quarter worth about $7,546,000. Barclays PLC increased its position in shares of G-III Apparel Group by 54.0% during the fourth quarter. Barclays PLC now owns 717,607 shares of the textile maker’s stock valued at $20,782,000 after acquiring an additional 251,502 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of G-III Apparel Group by 30.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock valued at $28,054,000 after acquiring an additional 247,245 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of G-III Apparel Group in the 1st quarter valued at approximately $5,756,000. 92.13% of the stock is currently owned by hedge funds and other 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.