StockNews.com Downgrades G-III Apparel Group (NASDAQ:GIII) to Hold

G-III Apparel Group (NASDAQ:GIII) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research analysts have also recently issued reports on GIII. Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Guggenheim raised their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report 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 report on Wednesday, December 11th. Two investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Stock Performance

Shares of GIII opened at $31.40 on Thursday. The company has a 50-day simple moving average of $31.85 and a two-hundred day simple moving average of $29.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.80. The firm has a market capitalization of $1.38 billion, a PE ratio of 8.24 and a beta of 2.09. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18.

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

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after buying an additional 151,425 shares during the last quarter. American Century Companies Inc. lifted its position in G-III Apparel Group by 15.6% during the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after purchasing an additional 155,079 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in G-III Apparel Group by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock worth $31,624,000 after purchasing an additional 6,598 shares during the last quarter. Geode Capital Management LLC grew its position in G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after purchasing an additional 11,196 shares during the period. Finally, Marshall Wace LLP raised its stake in G-III Apparel Group by 142.8% during the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after buying an additional 206,993 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

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.