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

StockNews.com downgraded shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research report report published on Wednesday.

Separately, Telsey Advisory Group reaffirmed a market perform rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $27.60.

G-III Apparel Group Trading Up 3.1 %

Shares of GIII stock opened at $26.65 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.79 and a quick ratio of 2.62. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 6.98 and a beta of 2.24. G-III Apparel Group has a 1 year low of $18.47 and a 1 year high of $35.68. The firm has a fifty day moving average price of $27.35 and a 200-day moving average price of $28.78.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.17. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. The business had revenue of $609.75 million during the quarter, compared to analyst estimates of $615.10 million. As a group, equities analysts predict that G-III Apparel Group will post 3.63 earnings per share for the current year.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in G-III Apparel Group by 38.1% in the 3rd quarter. American Century Companies Inc. now owns 262,165 shares of the textile maker’s stock worth $6,533,000 after purchasing an additional 72,333 shares in the last quarter. Vanguard Group Inc. boosted its stake in G-III Apparel Group by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock valued at $117,180,000 after buying an additional 92,673 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in G-III Apparel Group during the 4th quarter valued at approximately $308,000. Ritholtz Wealth Management bought a new stake in G-III Apparel Group in the 4th quarter worth approximately $377,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $219,000. 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.