G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating)’s share price traded down 4.5% during mid-day trading on Friday after Telsey Advisory Group lowered their price target on the stock from $32.00 to $25.00. Telsey Advisory Group currently has a market perform rating on the stock. G-III Apparel Group traded as low as $19.65 and last traded at $19.65. 6,629 shares were traded during trading, a decline of 99% from the average session volume of 510,227 shares. The stock had previously closed at $20.57.
Several other equities research analysts have also commented on GIII. Wells Fargo & Company began coverage on G-III Apparel Group in a research report on Monday, July 11th. They issued an “equal weight” rating and a $20.00 price objective on the stock. UBS Group cut their price objective on shares of G-III Apparel Group from $31.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, July 15th. Barclays reiterated an “equal weight” rating and issued a $22.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, June 15th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Finally, KeyCorp initiated coverage on G-III Apparel Group in a report on Wednesday, July 20th. They issued an “overweight” rating and a $27.00 price target for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and a consensus price target of $25.86.
Institutional Investors Weigh In On G-III Apparel Group
Several large investors have recently bought and sold shares of the company. Wasatch Advisors Inc. acquired a new stake in shares of G-III Apparel Group in the first quarter valued at about $28,890,000. Goldman Sachs Group Inc. raised its holdings in G-III Apparel Group by 590.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,172,073 shares of the textile maker’s stock valued at $32,396,000 after acquiring an additional 1,002,261 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in G-III Apparel Group by 204.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 727,778 shares of the textile maker’s stock worth $14,723,000 after purchasing an additional 488,599 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of G-III Apparel Group by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 4,874,631 shares of the textile maker’s stock worth $131,858,000 after purchasing an additional 332,865 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of G-III Apparel Group in the first quarter valued at approximately $8,968,000. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
G-III Apparel Group Stock Performance
The stock has a market cap of $932.19 million, a price-to-earnings ratio of 4.96 and a beta of 2.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.58 and a quick ratio of 2.36. The firm has a fifty day moving average of $21.97 and a 200 day moving average of $24.76.
G-III Apparel Group (NASDAQ:GIII – Get Rating) last issued its earnings results on Tuesday, June 7th. The textile maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.15. G-III Apparel Group had a return on equity of 14.09% and a net margin of 6.98%. The business had revenue of $688.80 million during the quarter, compared to the consensus estimate of $597.35 million. During the same period last year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, sell-side analysts forecast that G-III Apparel Group, Ltd. will post 4.33 EPS for the current year.
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.