G-III Apparel Group (NASDAQ:GIII) Downgraded 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 morning.

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

G-III Apparel Group Stock Performance

Shares of GIII opened at $21.46 on Friday. The company has a market cap of $929.35 million, a PE ratio of 5.63 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The firm has a 50-day moving average of $25.76 and a 200-day moving average of $28.40. G-III Apparel Group has a one year low of $20.33 and a one year high of $36.18.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GIII. Caitong International Asset Management Co. Ltd grew its position in shares of G-III Apparel Group by 5,154.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker’s stock worth $32,000 after purchasing an additional 1,134 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $49,000. Smartleaf Asset Management LLC grew its position in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after purchasing an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $68,000. Finally, Strs Ohio acquired a new position in shares of G-III Apparel Group during the 1st quarter worth approximately $77,000. Institutional investors and hedge funds 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.