G-III Apparel Group (NASDAQ:GIII – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.
A number of other research analysts have also recently weighed in on the stock. Barclays reiterated an “underweight” rating and issued a $23.00 target price (down from $30.00) on shares of G-III Apparel Group in a research note on Monday. UBS Group upped their price target on shares of G-III Apparel Group from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, December 7th. KeyCorp upped their price target on shares of G-III Apparel Group from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Telsey Advisory Group upped their price target on shares of G-III Apparel Group from $24.00 to $30.00 and gave the company a “market perform” rating in a research note on Wednesday, December 6th. Finally, Wells Fargo & Company cut shares of G-III Apparel Group from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $30.00 to $24.00 in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.83.
G-III Apparel Group Stock Performance
GIII traded down $0.10 during midday trading on Friday, reaching $29.58. The company had a trading volume of 464,452 shares, compared to its average volume of 567,429. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.84. The stock has a market cap of $1.35 billion, a PE ratio of -12.43 and a beta of 2.44. G-III Apparel Group has a 12-month low of $13.59 and a 12-month high of $35.68. The business has a 50-day moving average price of $31.39 and a two-hundred day moving average price of $28.14.
G-III Apparel Group (NASDAQ:GIII – Get Free Report) last released its earnings results on Tuesday, December 5th. The textile maker reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.70. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.13 billion. G-III Apparel Group had a negative net margin of 3.57% and a positive return on equity of 12.32%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 earnings per share. On average, sell-side analysts expect that G-III Apparel Group will post 3.97 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other G-III Apparel Group news, CFO Neal Nackman sold 31,762 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $35.29, for a total value of $1,120,880.98. Following the sale, the chief financial officer now directly owns 55,977 shares in the company, valued at approximately $1,975,428.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.20% of the company’s stock.
Hedge Funds Weigh In On G-III Apparel Group
A number of institutional investors have recently made changes to their positions in GIII. Quarry LP increased its holdings in shares of G-III Apparel Group by 647.6% in the 2nd quarter. Quarry LP now owns 1,712 shares of the textile maker’s stock worth $33,000 after buying an additional 1,483 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of G-III Apparel Group in the 2nd quarter worth $34,000. Strs Ohio bought a new position in shares of G-III Apparel Group in the 3rd quarter worth $34,000. Point72 Middle East FZE bought a new position in shares of G-III Apparel Group in the 2nd quarter worth $40,000. Finally, Castleview Partners LLC bought a new position in shares of G-III Apparel Group in the 3rd quarter worth $41,000. 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.