BidaskClub Lowers G-III Apparel Group (GIII) to Hold

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BidaskClub lowered shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research note issued to investors on Saturday, BidAskClub reports.

Other research analysts also recently issued reports about the stock. TheStreet raised shares of G-III Apparel Group from a c+ rating to a b- rating in a research note on Thursday, March 21st. Zacks Investment Research downgraded shares of G-III Apparel Group from a hold rating to a sell rating in a research note on Thursday, February 28th. Stifel Nicolaus raised shares of G-III Apparel Group from a hold rating to a buy rating and lifted their target price for the stock from $28.50 to $40.00 in a research note on Sunday, December 16th. ValuEngine raised shares of G-III Apparel Group from a sell rating to a hold rating in a research note on Thursday, March 21st. Finally, Barclays lifted their target price on shares of G-III Apparel Group from $36.00 to $39.00 and gave the stock an equal weight rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $46.58.

Shares of NASDAQ GIII opened at $41.57 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.33. G-III Apparel Group has a 52 week low of $25.43 and a 52 week high of $51.20. The firm has a market capitalization of $1.99 billion, a P/E ratio of 14.53, a PEG ratio of 0.83 and a beta of 0.98.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, March 21st. The textile maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.44 by $0.11. G-III Apparel Group had a net margin of 4.49% and a return on equity of 12.74%. The company had revenue of $766.80 million for the quarter, compared to the consensus estimate of $767.89 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts anticipate that G-III Apparel Group will post 3.3 earnings per share for the current fiscal year.

In other G-III Apparel Group news, Director Laura H. Pomerantz sold 821 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total transaction of $33,193.03. Following the transaction, the director now directly owns 39,682 shares of the company’s stock, valued at approximately $1,604,343.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Laura H. Pomerantz sold 2,105 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $41.52, for a total transaction of $87,399.60. Following the transaction, the director now directly owns 36,756 shares in the company, valued at $1,526,109.12. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Blueshift Asset Management LLC purchased a new position in G-III Apparel Group during the 4th quarter valued at $267,000. Vanguard Group Inc. increased its position in G-III Apparel Group by 10.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,346,116 shares of the textile maker’s stock valued at $209,439,000 after purchasing an additional 426,960 shares during the period. Dana Investment Advisors Inc. increased its position in G-III Apparel Group by 29.8% during the 4th quarter. Dana Investment Advisors Inc. now owns 72,261 shares of the textile maker’s stock valued at $2,015,000 after purchasing an additional 16,596 shares during the period. Intrust Bank NA increased its position in G-III Apparel Group by 44.3% during the 4th quarter. Intrust Bank NA now owns 7,546 shares of the textile maker’s stock valued at $210,000 after purchasing an additional 2,316 shares during the period. Finally, New Amsterdam Partners LLC NY purchased a new position in G-III Apparel Group during the 4th quarter valued at $2,536,000.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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.

Read More: Gross Domestic Product (GDP)

Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

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