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

StockNews.com downgraded shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a report published on Monday morning.

GIII has been the subject of several other reports. KeyCorp raised their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Telsey Advisory Group restated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Barclays raised 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. Finally, Guggenheim raised 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 equities research 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.33.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $25.66 on Monday. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $30.50 and a two-hundred day moving average price of $30.51. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The company has a market cap of $1.13 billion, a P/E ratio of 6.73 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating the consensus estimate of $2.26 by $0.33. The company had revenue of $1.09 billion during 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 revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $2.78 EPS. As a group, analysts anticipate that G-III Apparel Group will post 4.16 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Several large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in G-III Apparel Group by 11.8% in the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock valued at $47,672,000 after acquiring an additional 153,913 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of G-III Apparel Group by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock worth $31,624,000 after buying an additional 6,598 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after buying an additional 11,196 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of G-III Apparel Group by 2.6% during the 4th quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock worth $25,197,000 after buying an additional 19,723 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of G-III Apparel Group by 80.6% during the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock worth $24,989,000 after buying an additional 341,870 shares in the last quarter. Institutional investors 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.