G-III Apparel Group (NASDAQ:GIII) Shares Down 3.3%

G-III Apparel Group, Ltd. (NASDAQ:GIII) shares fell 3.3% during trading on Friday . The stock traded as low as $25.87 and last traded at $25.95. 156,295 shares changed hands during trading, a decline of 75% from the average session volume of 623,582 shares. The stock had previously closed at $26.83.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIII. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Wells Fargo & Company reduced their price objective on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. UBS Group dropped their target price on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.60.

G-III Apparel Group Trading Down 2.8 %

The stock has a market capitalization of $1.17 billion, a P/E ratio of 7.02 and a beta of 2.24. The firm’s 50 day simple moving average is $27.77 and its two-hundred day simple moving average is $29.32. The company has a quick ratio of 2.62, a current ratio of 3.79 and a debt-to-equity ratio of 0.26.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Walleye Capital LLC acquired a new stake in shares of G-III Apparel Group in the 3rd quarter worth about $2,280,000. American Century Companies Inc. boosted its position in shares of G-III Apparel Group by 38.1% during the third quarter. American Century Companies Inc. now owns 262,165 shares of the textile maker’s stock valued at $6,533,000 after buying an additional 72,333 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 worth $117,180,000 after buying an additional 92,673 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in G-III Apparel Group by 24.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,205 shares of the textile maker’s stock valued at $1,625,000 after buying an additional 12,950 shares during the last quarter. Finally, Range Financial Group LLC lifted its stake in G-III Apparel Group by 5.5% during the 4th quarter. Range Financial Group LLC now owns 21,301 shares of the textile maker’s stock valued at $724,000 after acquiring an additional 1,103 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.