G-III Apparel Group (NASDAQ:GIII) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research report released on Friday morning.

Other analysts also recently issued research reports about the stock. Guggenheim initiated coverage on shares of G-III Apparel Group in a report on Wednesday. They issued a buy rating and a $36.00 price objective for the company. Barclays increased their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an underweight rating in a research report on Friday, September 6th. KeyCorp upped their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an overweight rating in a research report on Friday, September 6th. Finally, Telsey Advisory Group restated a market perform rating and issued a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $30.00.

G-III Apparel Group Stock Up 0.3 %

NASDAQ:GIII opened at $30.45 on Friday. The stock’s fifty day simple moving average is $28.27 and its 200-day simple moving average is $27.86. The firm has a market capitalization of $1.37 billion, a P/E ratio of 7.97 and a beta of 2.19. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Equities research analysts expect that G-III Apparel Group will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently modified their holdings of the business. Texas Permanent School Fund Corp grew its position in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after purchasing an additional 482 shares during the period. Mutual Advisors LLC boosted its position in G-III Apparel Group by 1.0% in the first quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock worth $1,431,000 after purchasing an additional 498 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in G-III Apparel Group by 1.4% in the second quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock worth $1,023,000 after purchasing an additional 516 shares during the last quarter. ProShare Advisors LLC grew its position in G-III Apparel Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after buying an additional 572 shares during the period. Finally, CWM LLC grew its position in shares of G-III Apparel Group by 46.8% during the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 885 shares during the period. 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.