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

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

Several other research analysts have also issued reports on GIII. Telsey Advisory Group dropped their target price on G-III Apparel Group from $38.00 to $30.00 and set a market perform rating for the company in a research report on Monday, March 14th. TheStreet upgraded G-III Apparel Group from a c+ rating to a b- rating in a research report on Friday, April 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $33.00.

Shares of NASDAQ GIII opened at $26.48 on Friday. The business’s 50 day moving average is $27.59 and its two-hundred day moving average is $28.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.24 and a quick ratio of 2.23. G-III Apparel Group has a 1-year low of $22.50 and a 1-year high of $35.80. The stock has a market capitalization of $1.29 billion, a P/E ratio of 6.52 and a beta of 2.68.

G-III Apparel Group (NASDAQ:GIII – Get Rating) last issued its quarterly earnings data on Thursday, March 17th. The textile maker reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.34. G-III Apparel Group had a return on equity of 13.97% and a net margin of 7.25%. The company had revenue of $748.20 million for the quarter, compared to analysts’ expectations of $740.17 million. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 42.2% on a year-over-year basis. As a group, equities research analysts anticipate that G-III Apparel Group will post 4.26 earnings per share for the current fiscal year.

In related news, CFO Neal Nackman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $29.06, for a total value of $435,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Sammy Aaron sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $29.82, for a total value of $1,789,200.00. The disclosure for this sale can be found here. 9.60% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in G-III Apparel Group by 590.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,172,073 shares of the textile maker’s stock worth $32,396,000 after buying an additional 1,002,261 shares during the period. Candlestick Capital Management LP lifted its holdings in G-III Apparel Group by 84.0% during the third quarter. Candlestick Capital Management LP now owns 1,150,000 shares of the textile maker’s stock worth $32,545,000 after buying an additional 525,000 shares during the period. Norges Bank purchased a new stake in G-III Apparel Group during the fourth quarter worth $11,881,000. Point72 Asset Management L.P. lifted its holdings in G-III Apparel Group by 347.5% during the third quarter. Point72 Asset Management L.P. now owns 515,843 shares of the textile maker’s stock worth $14,598,000 after buying an additional 400,579 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in G-III Apparel Group by 762.2% during the first quarter. Assenagon Asset Management S.A. now owns 324,866 shares of the textile maker’s stock worth $8,788,000 after buying an additional 287,189 shares during the period. Hedge funds and other institutional investors own 93.14% of the company’s stock.

G-III Apparel Group Company Profile (Get Rating)

G-III Apparel Group, Ltd. designs, sources, 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.

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