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

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

A number of other equities analysts have also commented on the company. Barclays boosted their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. KeyCorp upped 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 report on Wednesday, December 11th. Guggenheim raised 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 report on Wednesday, December 11th. Finally, 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 note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, G-III Apparel Group has a consensus rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock traded down $0.16 during mid-day trading on Thursday, reaching $32.20. 268,052 shares of the stock were exchanged, compared to its average volume of 293,210. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 8.45 and a beta of 2.09. The firm has a 50-day simple moving average of $31.85 and a 200 day simple moving average of $29.46. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13.

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

Institutional Investors Weigh In On G-III Apparel Group

Institutional investors have recently modified their holdings of the business. Vestcor Inc lifted its stake in G-III Apparel Group by 197.7% in the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after buying an additional 20,800 shares during the period. Geode Capital Management LLC raised its position in shares of 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 period. Sanctuary Advisors LLC boosted its stake in G-III Apparel Group by 8.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock worth $439,000 after acquiring an additional 1,126 shares during the last quarter. Jane Street Group LLC grew its holdings in G-III Apparel Group by 269.9% during the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock valued at $7,665,000 after purchasing an additional 183,246 shares during the period. Finally, Victory Capital Management Inc. increased its stake in G-III Apparel Group by 4.9% in the third quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock valued at $2,812,000 after purchasing an additional 4,294 shares in the last quarter. Institutional investors and hedge funds 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.