G-III Apparel Group (NASDAQ:GIII) Rating Lowered to Hold at Zacks Research

G-III Apparel Group (NASDAQ:GIII) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on GIII. Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. UBS Group reduced their target price on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. KeyCorp restated an “overweight” rating and issued a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Trading Up 3.0%

Shares of NASDAQ GIII opened at $35.21 on Tuesday. G-III Apparel Group has a 12-month low of $22.91 and a 12-month high of $36.53. The firm’s 50-day moving average price is $32.80 and its 200-day moving average price is $30.67. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.44 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.09. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The company had revenue of $535.96 million during the quarter, compared to analyst estimates of $529.07 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. On average, equities analysts predict that G-III Apparel Group will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Phocas Financial Corp. raised its position in G-III Apparel Group by 77.2% during the 4th quarter. Phocas Financial Corp. now owns 244,406 shares of the textile maker’s stock valued at $7,078,000 after purchasing an additional 106,497 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of G-III Apparel Group by 251.4% in the fourth quarter. AlphaQuest LLC now owns 70,278 shares of the textile maker’s stock valued at $2,035,000 after acquiring an additional 50,279 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of G-III Apparel Group by 149.8% in the first quarter. SG Americas Securities LLC now owns 52,390 shares of the textile maker’s stock valued at $1,451,000 after acquiring an additional 31,420 shares in the last quarter. Hsbc Holdings PLC lifted its stake in G-III Apparel Group by 46.2% in the fourth quarter. Hsbc Holdings PLC now owns 128,096 shares of the textile maker’s stock worth $3,756,000 after acquiring an additional 40,485 shares during the period. Finally, Landscape Capital Management L.L.C. grew its holdings in G-III Apparel Group by 34.8% during the 4th quarter. Landscape Capital Management L.L.C. now owns 110,435 shares of the textile maker’s stock worth $3,198,000 after acquiring an additional 28,535 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. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.