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

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

Several other research analysts also recently commented on the stock. Guggenheim initiated coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective for the company. KeyCorp raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Barclays increased their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Two 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.00.

G-III Apparel Group Price Performance

G-III Apparel Group stock opened at $31.88 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The business’s 50 day simple moving average is $29.03 and its 200 day simple moving average is $27.98. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 8.35 and a beta of 2.19.

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

Insider Buying and Selling

In other news, CEO Morris Goldfarb sold 67,014 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 12.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Advisors LLC purchased a new stake in G-III Apparel Group during the third quarter valued at about $375,000. Wedge Capital Management L L P NC purchased a new stake in G-III Apparel Group during the 3rd quarter valued at about $1,176,000. Exchange Traded Concepts LLC grew its position in G-III Apparel Group by 234.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 41,610 shares of the textile maker’s stock worth $1,270,000 after acquiring an additional 29,181 shares during the last quarter. Inspire Investing LLC purchased a new position in G-III Apparel Group in the 3rd quarter worth approximately $1,052,000. Finally, CWM LLC lifted its position in G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 885 shares during the last quarter. Institutional investors 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.