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

StockNews.com cut shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a report published on Monday.

A number of other brokerages have also commented on GIII. KeyCorp lifted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Guggenheim lifted their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Telsey Advisory Group reissued 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. Finally, Barclays boosted their price target on 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Trading Down 1.6 %

NASDAQ GIII opened at $26.65 on Monday. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $30.66 and its 200-day moving average price is $30.51. The stock has a market cap of $1.17 billion, a P/E ratio of 6.99 and a beta of 2.07.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC purchased a new position in G-III Apparel Group during the fourth quarter valued at approximately $49,000. Smartleaf Asset Management LLC boosted its holdings in G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after buying an additional 1,412 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in G-III Apparel Group in the 4th quarter worth $68,000. Quarry LP purchased a new stake in G-III Apparel Group in the 3rd quarter worth $63,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 1,460 shares during the period. 92.13% of the stock is currently owned by 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.