G-III Apparel Group, LTD. (NASDAQ:GIII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “G-III Apparel Group, Ltd. designs, manufactures, imports & markets an extensive range of leather & non-leather apparel including coats, jackets, pants, skirts & other sportswear items. “

Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded G-III Apparel Group, LTD. from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Jaffray Companies set a $22.00 target price on G-III Apparel Group, LTD. and gave the stock a “hold” rating in a research report on Tuesday, June 6th. Telsey Advisory Group boosted their target price on G-III Apparel Group, LTD. from $24.00 to $27.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 7th. Wunderlich restated a “buy” rating and set a $33.00 target price on shares of G-III Apparel Group, LTD. in a research report on Tuesday, June 6th. Finally, Buckingham Research restated a “buy” rating and set a $28.00 target price on shares of G-III Apparel Group, LTD. in a research report on Monday, July 17th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $29.82.

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) traded up 1.22% on Tuesday, reaching $27.41. The company had a trading volume of 937,890 shares. The company has a 50-day moving average price of $24.61 and a 200-day moving average price of $24.09. The firm has a market cap of $1.33 billion, a P/E ratio of 33.51 and a beta of 0.33. G-III Apparel Group, LTD. has a one year low of $18.00 and a one year high of $44.85.

G-III Apparel Group, LTD. (NASDAQ:GIII) last released its earnings results on Tuesday, June 6th. The textile maker reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.22. The company had revenue of $529 million during the quarter, compared to the consensus estimate of $497.88 million. G-III Apparel Group, LTD. had a return on equity of 5.57% and a net margin of 1.58%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. On average, analysts expect that G-III Apparel Group, LTD. will post $1.26 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in shares of G-III Apparel Group, LTD. by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 4,830 shares of the textile maker’s stock worth $105,000 after buying an additional 80 shares during the period. Arizona State Retirement System boosted its stake in shares of G-III Apparel Group, LTD. by 0.4% in the second quarter. Arizona State Retirement System now owns 22,875 shares of the textile maker’s stock worth $571,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of G-III Apparel Group, LTD. by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the textile maker’s stock worth $390,000 after buying an additional 200 shares during the period. Texas Permanent School Fund boosted its stake in shares of G-III Apparel Group, LTD. by 0.9% in the second quarter. Texas Permanent School Fund now owns 31,969 shares of the textile maker’s stock worth $798,000 after buying an additional 275 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of G-III Apparel Group, LTD. by 3.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,330 shares of the textile maker’s stock worth $258,000 after buying an additional 330 shares during the period. 94.36% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group, LTD. Company Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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Analyst Recommendations for G-III Apparel Group, LTD. (NASDAQ:GIII)

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