G-III Apparel Group (NASDAQ:GIII) Downgraded by StockNews.com to “Hold”

G-III Apparel Group (NASDAQ:GIII) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Several other equities research analysts also recently weighed in on GIII. UBS Group reduced their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Barclays boosted their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. KeyCorp boosted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Telsey Advisory Group restated a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. Finally, Guggenheim boosted their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and an average price target of $33.33.

G-III Apparel Group Stock Performance

Shares of GIII opened at $25.92 on Wednesday. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $36.18. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 6.80 and a beta of 2.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The firm has a fifty day moving average of $29.83 and a 200-day moving average of $30.51.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.33. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.78 earnings per share. As a group, equities analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current year.

Hedge Funds Weigh In On G-III Apparel Group

A number of large investors have recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in shares of G-III Apparel Group by 11.8% in the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock valued at $47,672,000 after purchasing an additional 153,913 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of G-III Apparel Group by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock valued at $31,624,000 after purchasing an additional 6,598 shares during the period. Geode Capital Management LLC increased its holdings in shares of G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after purchasing an additional 11,196 shares during the period. Prudential Financial Inc. increased its holdings in shares of G-III Apparel Group by 2.6% in the 4th quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock valued at $25,197,000 after purchasing an additional 19,723 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of G-III Apparel Group by 80.6% in the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock valued at $24,989,000 after purchasing an additional 341,870 shares during the period. 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.