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

G-III Apparel Group (NASDAQ:GIII) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Other equities analysts also recently issued reports about the company. Guggenheim initiated coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price objective for the company. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a report on Thursday, September 5th. KeyCorp upped 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 note on Friday, September 6th. Finally, Barclays lifted their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.00.

G-III Apparel Group Stock Down 1.6 %

Shares of GIII opened at $30.85 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $35.68. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 8.08 and a beta of 2.19. The stock has a fifty day moving average of $29.31 and a 200-day moving average of $28.03.

G-III Apparel Group (NASDAQ:GIII) last posted its 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 return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same period last year, the company earned $0.40 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of G-III Apparel Group in the second quarter valued at $42,000. CWM LLC raised its holdings in shares of G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares during the last quarter. Point72 DIFC Ltd bought a new position in G-III Apparel Group in the 2nd quarter valued at about $78,000. Innealta Capital LLC bought a new position in G-III Apparel Group in the 2nd quarter valued at about $124,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in G-III Apparel Group during the 1st quarter valued at about $171,000. 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.