G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Free Report) fell 3.2% during trading on Wednesday . The company traded as low as $26.05 and last traded at $26.20. 262,008 shares changed hands during trading, a decline of 55% from the average session volume of 582,243 shares. The stock had previously closed at $27.07.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on GIII shares. Wells Fargo & Company dropped 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 upgraded shares of G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. Barclays reaffirmed an “underweight” rating and issued a $23.00 price objective (down previously from $30.00) on shares of G-III Apparel Group in a research report on Monday, March 4th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a report on Monday, June 3rd. Finally, UBS Group decreased their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.60.
G-III Apparel Group Stock Down 3.9 %
The stock has a market capitalization of $1.17 billion, a PE ratio of 7.15 and a beta of 2.26. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.79 and a quick ratio of 2.62. The business’s fifty day moving average price is $28.28 and its two-hundred day moving average price is $30.04.
G-III Apparel Group (NASDAQ:GIII – Get Free Report) last announced its quarterly earnings data on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. The business had revenue of $609.75 million for the quarter, compared to analyst estimates of $615.10 million. On average, equities research analysts forecast that G-III Apparel Group, Ltd. will post 3.63 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Texas Permanent School Fund Corp raised its stake in shares of G-III Apparel Group by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after buying an additional 482 shares during the last quarter. Mutual Advisors LLC boosted its position in G-III Apparel Group by 1.0% in the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock worth $1,431,000 after purchasing an additional 498 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of G-III Apparel Group by 1.1% during the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after purchasing an additional 532 shares during the period. ProShare Advisors LLC increased its holdings in shares of G-III Apparel Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after purchasing an additional 572 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC lifted its stake in shares of G-III Apparel Group by 12.0% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 5,998 shares of the textile maker’s stock valued at $204,000 after purchasing an additional 644 shares during the period. 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.