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

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

Several other brokerages have also recently issued reports on GIII. Guggenheim boosted their price target on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Barclays upped their target price 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. Finally, 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 note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.33.

G-III Apparel Group Trading Up 0.9 %

Shares of GIII stock opened at $25.66 on Monday. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.13 billion, a P/E ratio of 6.73 and a beta of 2.07. The stock has a 50 day simple moving average of $30.50 and a 200 day simple moving average 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 issued its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.78 earnings per share. On average, research analysts predict 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in shares of G-III Apparel Group by 513.2% in the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after acquiring an additional 472,862 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of G-III Apparel Group by 80.6% in the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock valued at $24,989,000 after acquiring an additional 341,870 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of G-III Apparel Group in the 4th quarter valued at $7,628,000. Point72 Asset Management L.P. lifted its stake in shares of G-III Apparel Group by 111.7% in the 4th quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker’s stock valued at $12,432,000 after acquiring an additional 201,126 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of G-III Apparel Group by 236.4% in the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock valued at $8,627,000 after acquiring an additional 198,647 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

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.