G-III Apparel Group (NASDAQ:GIII) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of G-III Apparel Group (NASDAQ:GIII) from a strong-buy rating to a hold rating in a report released on Saturday.

Other equities research analysts have also recently issued research reports about the company. Telsey Advisory Group decreased their price target on G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Monday, June 9th. KeyCorp decreased their price target on G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, June 9th. Barclays decreased their target price on G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, June 9th. Finally, UBS Group decreased their target price on G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.80.

G-III Apparel Group Trading Down 3.3%

Shares of GIII stock opened at $20.54 on Friday. The firm has a market capitalization of $901.36 million, a P/E ratio of 5.39 and a beta of 1.48. G-III Apparel Group has a twelve month low of $20.37 and a twelve month high of $36.18. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $25.78 and its 200 day simple moving average is $28.46.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $583.61 million during the quarter, compared to analysts’ expectations of $579.48 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. As a group, sell-side analysts predict that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in G-III Apparel Group by 11.1% in the first quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker’s stock worth $44,426,000 after acquiring an additional 162,904 shares in the last quarter. Millennium Management LLC boosted its holdings in G-III Apparel Group by 139.3% in the first quarter. Millennium Management LLC now owns 953,185 shares of the textile maker’s stock worth $26,070,000 after acquiring an additional 554,933 shares in the last quarter. LSV Asset Management boosted its holdings in G-III Apparel Group by 13.2% in the first quarter. LSV Asset Management now owns 846,904 shares of the textile maker’s stock worth $23,163,000 after acquiring an additional 98,923 shares in the last quarter. Prudential Financial Inc. boosted its holdings in G-III Apparel Group by 2.6% in the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock worth $25,197,000 after acquiring an additional 19,723 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in G-III Apparel Group by 80.6% in the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock worth $24,989,000 after acquiring 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.