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

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

GIII has been the subject of a number of other research reports. KeyCorp upped their target price on 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. Barclays upped their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Guggenheim boosted their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price objective on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Stock Down 0.5 %

NASDAQ GIII traded down $0.16 during trading on Thursday, reaching $32.20. The company’s stock had a trading volume of 268,052 shares, compared to its average volume of 293,210. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.41 billion, a PE ratio of 8.45 and a beta of 2.09. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The business has a 50-day moving average price of $31.85 and a 200-day moving average price of $29.46.

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

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in shares of G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after buying an additional 151,425 shares in the last quarter. American Century Companies Inc. raised its position in 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 worth $31,054,000 after purchasing an additional 155,079 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in G-III Apparel Group by 0.6% in the third 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 in the last quarter. Geode Capital Management LLC lifted its stake in G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after purchasing an additional 11,196 shares during the period. Finally, Marshall Wace LLP boosted its holdings in G-III Apparel Group by 142.8% during the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after purchasing an additional 206,993 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

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.