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

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

Other research analysts have also issued reports about the company. KeyCorp raised their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Telsey Advisory Group restated a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a report on Wednesday, December 18th. Barclays lifted their price target on shares of 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. Finally, Guggenheim lifted their target price on 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. Two research 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.17.

G-III Apparel Group Trading Down 1.6 %

Shares of NASDAQ GIII traded down $0.42 during trading on Monday, hitting $26.65. 702,331 shares of the company traded hands, compared to its average volume of 436,333. The firm has a market capitalization of $1.17 billion, a P/E ratio of 6.99 and a beta of 2.07. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $30.66 and a 200-day moving average price of $30.51. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company posted $2.78 earnings per share. G-III Apparel Group’s revenue was up 1.9% compared to the same quarter last year. On average, equities analysts predict that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in GIII. Victory Capital Management Inc. increased its stake in G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after purchasing an additional 472,862 shares during the last quarter. Marshall Wace LLP lifted its holdings in G-III Apparel Group by 80.6% in the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock worth $24,989,000 after acquiring an additional 341,870 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in G-III Apparel Group in the fourth quarter valued at approximately $7,628,000. Point72 Asset Management L.P. grew its holdings in shares of G-III Apparel Group by 111.7% during the fourth quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker’s stock valued at $12,432,000 after purchasing an additional 201,126 shares during the last quarter. Finally, Barclays PLC raised its position in shares of G-III Apparel Group by 236.4% during the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after purchasing an additional 198,647 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

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.