StockNews.com downgraded shares of G-III Apparel Group (NASDAQ:GIII - Free Report) from a buy rating to a hold rating in a research report sent to investors on Tuesday.
GIII has been the topic of several other reports. Barclays upped their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an "underweight" rating in a research note on Friday, September 6th. Guggenheim began coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They set a "buy" rating and a $36.00 target price on the stock. KeyCorp lifted their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two investment analysts have 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $30.00.
Read Our Latest Report on GIII
G-III Apparel Group Stock Performance
G-III Apparel Group stock traded down $0.54 during trading hours on Tuesday, hitting $31.34. The company had a trading volume of 221,702 shares, compared to its average volume of 590,874. The firm has a 50-day moving average of $29.18 and a 200 day moving average of $28.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The firm has a market cap of $1.41 billion, a PE ratio of 8.20 and a beta of 2.19. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68.
G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business had revenue of $644.80 million during the quarter, compared to analysts' expectations of $649.54 million. During the same period last year, the firm posted $0.40 EPS. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts expect that G-III Apparel Group will post 4.01 earnings per share for the current year.
Insider Buying and Selling
In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the transaction, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of GIII. Vanguard Group Inc. increased its holdings in shares of G-III Apparel Group by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker's stock worth $146,408,000 after buying an additional 292,668 shares in the last quarter. F M Investments LLC acquired a new position in G-III Apparel Group in the 2nd quarter worth about $6,796,000. Marshall Wace LLP increased its holdings in G-III Apparel Group by 142.8% in the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker's stock worth $9,526,000 after purchasing an additional 206,993 shares in the last quarter. American Century Companies Inc. raised its position in G-III Apparel Group by 15.6% in the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker's stock valued at $31,054,000 after purchasing an additional 155,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of G-III Apparel Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker's stock valued at $91,396,000 after purchasing an additional 151,425 shares in the last quarter. Institutional investors own 92.13% of the company's stock.
About G-III Apparel Group
(
Get Free Report)
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.
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