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

StockNews.com lowered shares of G-III Apparel Group (NASDAQ:GIII - Free Report) from a buy rating to a hold rating in a research report released on Monday morning.

Other equities research analysts have also recently issued reports about the company. KeyCorp upped their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note 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 research report on Wednesday, December 18th. Guggenheim lifted their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Finally, Barclays boosted their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $33.33.

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G-III Apparel Group Stock Performance

NASDAQ:GIII traded down $0.14 during mid-day trading on Monday, reaching $26.43. 611,206 shares of the company's stock were exchanged, compared to its average volume of 446,232. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. 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 business's fifty day simple moving average is $30.22 and its two-hundred day simple moving average is $30.45. The firm has a market capitalization of $1.16 billion, a PE ratio of 6.94 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.78 earnings per share. Analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Phocas Financial Corp. boosted its holdings in G-III Apparel Group by 84.4% in the fourth quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker's stock valued at $7,634,000 after acquiring an additional 107,082 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of G-III Apparel Group in the 4th quarter worth approximately $3,970,000. Public Employees Retirement System of Ohio acquired a new position in shares of G-III Apparel Group in the 4th quarter worth approximately $68,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of G-III Apparel Group by 16.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 74,135 shares of the textile maker's stock valued at $2,418,000 after purchasing an additional 10,320 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth $217,000. 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.