G-III Apparel Group (NASDAQ:GIII) Shares Down 2.5% - Time to Sell?

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report)'s share price traded down 2.5% during mid-day trading on Tuesday . The stock traded as low as $23.94 and last traded at $23.99. Approximately 81,275 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 552,394 shares. The stock had previously closed at $24.60.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GIII. Barclays reduced their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 18th. StockNews.com downgraded G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Telsey Advisory Group reiterated a "market perform" rating and issued a $30.00 target price on shares of G-III Apparel Group in a report on Friday, April 4th. Finally, UBS Group cut their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of "Hold" and a consensus price target of $33.00.

G-III Apparel Group Stock Down 0.6 %

The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.11 billion, a P/E ratio of 6.63 and a beta of 1.63. The business's 50 day moving average is $26.07 and its 200 day moving average is $29.57.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. During the same period in the previous year, the company posted $0.76 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GIII. SummerHaven Investment Management LLC grew its holdings in G-III Apparel Group by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker's stock worth $816,000 after purchasing an additional 461 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of G-III Apparel Group by 18.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock worth $117,000 after purchasing an additional 564 shares in the last quarter. Sanctuary Advisors LLC grew its stake in G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock worth $500,000 after buying an additional 631 shares during the last quarter. Vestcor Inc increased its position in G-III Apparel Group by 2.1% during the 4th quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock valued at $1,043,000 after buying an additional 665 shares in the last quarter. Finally, Atria Investments Inc raised its stake in G-III Apparel Group by 9.1% in the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker's stock valued at $264,000 after buying an additional 673 shares during the last quarter. Institutional investors 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.