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

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

Other equities research analysts have also issued reports about the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. KeyCorp increased their price objective on shares of 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. Barclays lifted their target price on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. Finally, Guggenheim increased their price target on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.17.

G-III Apparel Group Stock Down 2.5 %

GIII opened at $31.40 on Thursday. The firm’s 50 day simple moving average is $31.85 and its two-hundred day simple moving average is $29.46. The company has a market capitalization of $1.38 billion, a PE ratio of 8.24 and a beta of 2.09. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm earned $2.78 EPS. G-III Apparel Group’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of G-III Apparel Group by 18.5% in the second quarter. Victory Capital Management Inc. now owns 87,842 shares of the textile maker’s stock worth $2,378,000 after purchasing an additional 13,697 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of G-III Apparel Group by 6.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 37,835 shares of the textile maker’s stock worth $1,024,000 after acquiring an additional 2,217 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of G-III Apparel Group by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock worth $31,054,000 after acquiring an additional 155,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of G-III Apparel Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after acquiring an additional 151,425 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of G-III Apparel Group by 26.1% in the second quarter. Hsbc Holdings PLC now owns 57,936 shares of the textile maker’s stock valued at $1,565,000 after purchasing an additional 12,006 shares in the last quarter. 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.