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

StockNews.com cut shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a report released on Friday.

Other research analysts have also recently issued research reports about the company. Telsey Advisory Group reiterated a market perform rating and issued a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. Barclays boosted their price target on 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. Guggenheim initiated coverage on G-III Apparel Group in a report on Wednesday, October 9th. They issued a buy rating and a $36.00 price objective for the company. Finally, KeyCorp boosted their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the company an overweight rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $30.00.

G-III Apparel Group Trading Up 0.2 %

Shares of GIII opened at $30.51 on Friday. The stock’s 50-day moving average is $28.40 and its two-hundred day moving average is $27.86. The stock has a market cap of $1.37 billion, a PE ratio of 7.99 and a beta of 2.19. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. The company had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Equities analysts forecast that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the sale, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds have recently modified their holdings of GIII. Wedge Capital Management L L P NC acquired a new position in G-III Apparel Group during the third quarter worth $1,176,000. Exchange Traded Concepts LLC increased its position in G-III Apparel Group by 234.8% during the third quarter. Exchange Traded Concepts LLC now owns 41,610 shares of the textile maker’s stock worth $1,270,000 after buying an additional 29,181 shares during the last quarter. Inspire Investing LLC acquired a new position in G-III Apparel Group during the third quarter worth $1,052,000. CWM LLC increased its position in G-III Apparel Group by 46.8% during the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock worth $85,000 after buying an additional 885 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in G-III Apparel Group during the second quarter worth $78,000. 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.