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

G-III Apparel Group (NASDAQ:GIII) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

GIII has been the subject of a number of other reports. Barclays lifted their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. KeyCorp lifted their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Guggenheim initiated coverage on shares of G-III Apparel Group in a research note on Wednesday. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. Two 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. Based on data from MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and a consensus price target of $30.00.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $30.35 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The company has a market cap of $1.37 billion, a P/E ratio of 7.95 and a beta of 2.19. The firm’s fifty day moving average is $28.16 and its two-hundred day moving average is $27.84. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The company had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. G-III Apparel Group’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. As a group, analysts anticipate that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the transaction, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On G-III Apparel Group

Several large investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp boosted its position in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after buying an additional 482 shares during the period. Mutual Advisors LLC boosted its position in G-III Apparel Group by 1.0% in the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after buying an additional 498 shares during the period. SummerHaven Investment Management LLC boosted its position in G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after buying an additional 516 shares during the period. ProShare Advisors LLC boosted its position in G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after buying an additional 572 shares during the period. Finally, CWM LLC boosted its position in G-III Apparel Group by 46.8% in the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after buying an additional 885 shares during the period. 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.