StockNews.com Downgrades 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 report issued on Saturday.

GIII has been the subject of several other research reports. Barclays increased their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an underweight rating in a research report on Friday, September 6th. KeyCorp increased their price objective on shares of 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 reaffirmed a market perform rating and issued a $29.00 price objective 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 issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $28.80.

G-III Apparel Group Trading Up 1.8 %

NASDAQ GIII opened at $31.74 on Friday. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68. The company’s 50 day moving average price is $26.69 and its 200 day moving average price is $27.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 2.92. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.31 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same quarter last year, the firm posted $0.40 earnings per share. G-III Apparel Group’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that G-III Apparel Group will post 4.01 EPS for the current year.

Institutional Trading of G-III Apparel Group

A number of hedge funds have recently made changes to their positions in GIII. Newbridge Financial Services Group Inc. acquired a new stake in shares of G-III Apparel Group during the first quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group during the second quarter worth approximately $42,000. CWM LLC grew its position in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after buying an additional 1,012 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth approximately $56,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of G-III Apparel Group during the second quarter worth approximately $78,000. Institutional investors and hedge funds 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.