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

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

A number of other research analysts also recently issued reports on the company. UBS Group decreased their price target on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. 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 report on Wednesday, December 11th. KeyCorp boosted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. 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, Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $33.33.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $25.34 on Wednesday. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $36.18. The firm has a market cap of $1.11 billion, a P/E ratio of 6.65 and a beta of 2.09. The business’s 50 day moving average price is $29.68 and its 200 day moving average price is $30.48. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that G-III Apparel Group will post 4.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GIII. AlphaQuest LLC acquired a new position in G-III Apparel Group in the 4th quarter valued at $49,000. Quarry LP acquired a new position in G-III Apparel Group in the 3rd quarter valued at $63,000. Smartleaf Asset Management LLC raised its stake in G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in G-III Apparel Group in the 4th quarter valued at $68,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in G-III Apparel Group by 93.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 1,460 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

About G-III Apparel Group

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.