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

StockNews.com lowered shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research firms also recently commented on GIII. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp boosted their target price 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 boosted their target price 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, Guggenheim began coverage on G-III Apparel Group in a report on Wednesday, October 9th. They set a “buy” rating and a $36.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, G-III Apparel Group has an average rating of “Hold” and an average target price of $30.00.

G-III Apparel Group Trading Down 0.5 %

NASDAQ GIII opened at $30.69 on Tuesday. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a 50-day moving average of $29.54 and a 200-day moving average of $28.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The company has a market cap of $1.38 billion, a P/E ratio of 8.03 and a beta of 2.19.

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

Insider Transactions at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the company’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 owns 3,990,085 shares in the company, valued at $126,046,785.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in G-III Apparel Group in the 2nd quarter worth approximately $42,000. CWM LLC boosted its stake in shares of G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after buying an additional 1,012 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of G-III Apparel Group during the 2nd quarter valued at approximately $78,000. Innealta Capital LLC purchased a new position in shares of G-III Apparel Group during the 2nd quarter valued at approximately $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of G-III Apparel Group during the 1st quarter valued at approximately $171,000. Hedge funds and other 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.