G-III Apparel Group (NASDAQ:GIII) Stock Price Down 4.3% – What’s Next?

G-III Apparel Group, Ltd. (NASDAQ:GIII) was down 4.3% on Wednesday . The stock traded as low as $33.23 and last traded at $33.37. Approximately 33,387 shares changed hands during trading, a decline of 94% from the average daily volume of 558,704 shares. The stock had previously closed at $34.87.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of research analyst reports. Barclays upped their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $32.00 target price on shares of G-III Apparel Group in a research report on Tuesday. Guggenheim upped their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp raised their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group presently has an average rating of “Hold” and a consensus price target of $31.83.

G-III Apparel Group Trading Up 0.6 %

The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $30.73 and its two-hundred day moving average price is $28.68. The firm has a market cap of $1.54 billion, a PE ratio of 8.78 and a beta of 2.14.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm earned $2.78 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Morris Goldfarb sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. This trade represents a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GIII. Dimensional Fund Advisors LP raised its position in shares of G-III Apparel Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after purchasing an additional 151,425 shares during the last quarter. American Century Companies Inc. lifted its position in shares of G-III Apparel Group by 15.6% in 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 acquiring an additional 155,079 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of G-III Apparel Group by 0.6% during the 3rd 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 raised its holdings 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 valued at $29,833,000 after acquiring an additional 11,196 shares during the last quarter. Finally, LSV Asset Management raised its holdings in G-III Apparel Group by 0.6% in the 2nd quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock valued at $23,055,000 after acquiring an additional 5,200 shares during the last quarter. Hedge funds and other 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.