G-III Apparel Group (NASDAQ:GIII) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

GIII has been the topic of several other research reports. KeyCorp increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Barclays raised their target price on shares of 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. Guggenheim boosted their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Stock Performance

Shares of GIII opened at $32.20 on Thursday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 8.45 and a beta of 2.09. The company’s fifty day moving average is $31.85 and its 200-day moving average is $29.46. The company has a quick ratio of 1.80, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vestcor Inc increased its stake in G-III Apparel Group by 197.7% during the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after acquiring an additional 20,800 shares during the period. Geode Capital Management LLC increased its position in shares of G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after purchasing an additional 11,196 shares during the period. Sanctuary Advisors LLC raised its stake in shares of G-III Apparel Group by 8.4% in the third quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after purchasing an additional 1,126 shares in the last quarter. Jane Street Group LLC lifted its position in G-III Apparel Group by 269.9% in the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after purchasing an additional 183,246 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in G-III Apparel Group by 4.9% during the third quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock worth $2,812,000 after buying an additional 4,294 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.