G-III Apparel Group (NASDAQ:GIII) Downgraded by StockNews.com

StockNews.com lowered shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research report report published on Saturday.

Several other equities analysts have also commented on GIII. Wells Fargo & Company dropped their price target on shares of G-III Apparel Group from $24.00 to $23.00 and set an underweight rating for the company in a research report on Friday, March 15th. Telsey Advisory Group reiterated a market perform rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Monday, June 3rd. Barclays restated an underweight rating and set a $23.00 price target (down from $30.00) on shares of G-III Apparel Group in a research note on Monday, March 4th. UBS Group reduced their price objective on G-III Apparel Group from $34.00 to $31.00 and set a neutral rating on the stock in a research note on Monday, March 18th. Finally, TheStreet raised shares of G-III Apparel Group from a c+ rating to a b rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $27.60.

G-III Apparel Group Trading Up 3.1 %

Shares of G-III Apparel Group stock opened at $27.36 on Friday. G-III Apparel Group has a fifty-two week low of $18.47 and a fifty-two week high of $35.68. The business’s fifty day moving average is $28.18 and its two-hundred day moving average is $29.99. The company has a quick ratio of 2.62, a current ratio of 3.79 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.23 billion, a PE ratio of 7.16 and a beta of 2.26.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.17. The firm had revenue of $609.75 million for the quarter, compared to the consensus estimate of $615.10 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. Analysts anticipate that G-III Apparel Group will post 3.63 earnings per share for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of G-III Apparel Group during the first quarter valued at approximately $35,000. Quest Partners LLC purchased a new stake in G-III Apparel Group during the 4th quarter worth $56,000. DekaBank Deutsche Girozentrale acquired a new position in G-III Apparel Group in the 3rd quarter worth $97,000. Allspring Global Investments Holdings LLC purchased a new position in G-III Apparel Group in the 1st quarter valued at about $171,000. Finally, Counterpoint Mutual Funds LLC grew its stake in shares of G-III Apparel Group by 12.0% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 5,998 shares of the textile maker’s stock valued at $204,000 after acquiring an additional 644 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

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.