G-III Apparel Group (NASDAQ:GIII) Trading Down 3.3%

G-III Apparel Group, Ltd. (NASDAQ:GIII)’s stock price fell 3.3% during trading on Friday . The stock traded as low as $25.87 and last traded at $25.95. 156,295 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 623,582 shares. The stock had previously closed at $26.83.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. 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 report on Monday, March 18th. Wells Fargo & Company lowered their price target on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th. TheStreet upgraded shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Thursday, July 4th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, G-III Apparel Group has an average rating of “Hold” and a consensus price target of $27.60.

G-III Apparel Group Stock Down 2.8 %

The business’s 50 day moving average price is $27.77 and its 200-day moving average price is $29.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.62 and a current ratio of 3.79. The firm has a market capitalization of $1.17 billion, a PE ratio of 7.02 and a beta of 2.24.

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

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in G-III Apparel Group during the third quarter worth about $2,280,000. American Century Companies Inc. boosted its stake in shares of G-III Apparel Group by 38.1% in the third quarter. American Century Companies Inc. now owns 262,165 shares of the textile maker’s stock valued at $6,533,000 after purchasing an additional 72,333 shares during the period. Vanguard Group Inc. grew its holdings in shares of G-III Apparel Group by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock valued at $117,180,000 after purchasing an additional 92,673 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in G-III Apparel Group by 24.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,205 shares of the textile maker’s stock worth $1,625,000 after buying an additional 12,950 shares during the period. Finally, Range Financial Group LLC lifted its holdings in G-III Apparel Group by 5.5% during the 4th quarter. Range Financial Group LLC now owns 21,301 shares of the textile maker’s stock worth $724,000 after buying an additional 1,103 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.