G-III Apparel Group (NASDAQ:GIII) Rating Lowered to “Hold” at 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 released on Wednesday.

Several other research analysts also recently weighed in on the company. Barclays lifted their target price on 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. Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. UBS Group cut 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. KeyCorp boosted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Guggenheim upped their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The firm has a market capitalization of $1.11 billion, a PE ratio of 6.65 and a beta of 2.09. The stock’s 50-day simple moving average is $29.68 and its 200-day simple moving average is $30.48.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.78 EPS. As a group, equities research analysts forecast that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Phocas Financial Corp. lifted its stake in shares of G-III Apparel Group by 84.4% in the fourth quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker’s stock worth $7,634,000 after acquiring an additional 107,082 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in G-III Apparel Group during the fourth quarter valued at approximately $3,970,000. Public Employees Retirement System of Ohio acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $68,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of G-III Apparel Group by 16.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 74,135 shares of the textile maker’s stock worth $2,418,000 after purchasing an additional 10,320 shares during the period. Finally, iSAM Funds UK Ltd acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $217,000. Hedge funds and other 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.