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 report released on Thursday morning.

Other analysts also recently issued reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Guggenheim upped their price target on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Barclays raised their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Finally, KeyCorp boosted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.17.

G-III Apparel Group Stock Down 0.5 %

GIII stock opened at $32.20 on Thursday. The firm’s 50-day moving average is $31.85 and its two-hundred day moving average is $29.46. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 8.45 and a beta of 2.09. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $36.18. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Guidance Capital Inc. grew its stake in G-III Apparel Group by 2.0% during the 3rd quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker’s stock valued at $563,000 after acquiring an additional 331 shares in the last quarter. CWM LLC grew its holdings in shares of G-III Apparel Group by 46.8% during the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 885 shares in the last quarter. Sanctuary Advisors LLC increased 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 worth $439,000 after acquiring an additional 1,126 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in G-III Apparel Group by 0.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 329,720 shares of the textile maker’s stock valued at $10,063,000 after purchasing an additional 1,860 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

About G-III Apparel Group

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.