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

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

A number of other equities analysts also recently commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Barclays boosted their target price on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. UBS Group reduced their target price 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. Guggenheim boosted their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, KeyCorp upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and a consensus target price of $32.00.

G-III Apparel Group Stock Up 2.2 %

NASDAQ:GIII opened at $26.67 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 50-day moving average of $29.46 and a 200 day moving average of $30.45. The firm has a market cap of $1.17 billion, a PE ratio of 7.00 and a beta of 2.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75.

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

Hedge Funds Weigh In On G-III Apparel Group

Several hedge funds have recently modified their holdings of the stock. AlphaQuest LLC purchased a new stake in G-III Apparel Group in the fourth quarter valued at approximately $49,000. Smartleaf Asset Management LLC boosted its position in G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after buying an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in G-III Apparel Group in the fourth quarter valued at approximately $68,000. Quarry LP purchased a new stake in G-III Apparel Group in the third quarter valued at approximately $63,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after buying an additional 1,460 shares during 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.