G-III Apparel Group (NASDAQ:GIII) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on the company. UBS Group cut their price target on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of G-III Apparel Group in a report on Friday, January 9th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 target price (down from $34.00) on shares of G-III Apparel Group in a research note on Monday, March 9th. BTIG Research reaffirmed a “buy” rating and set a $34.00 target price on shares of G-III Apparel Group in a report on Wednesday. Finally, KeyCorp reiterated an “overweight” rating and set a $35.00 price target (up from $33.00) on shares of G-III Apparel Group in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $29.00.

G-III Apparel Group Stock Up 3.8%

NASDAQ GIII opened at $27.05 on Tuesday. The company has a market cap of $1.14 billion, a PE ratio of 18.03 and a beta of 1.29. G-III Apparel Group has a 52 week low of $20.33 and a 52 week high of $34.83. The firm’s 50-day simple moving average is $29.59 and its two-hundred day simple moving average is $28.73.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, March 12th. The textile maker reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.29). The business had revenue of $771.49 million during the quarter, compared to analysts’ expectations of $791.98 million. G-III Apparel Group had a return on equity of 6.73% and a net margin of 2.28%.G-III Apparel Group’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. G-III Apparel Group has set its Q1 2027 guidance at -0.400–0.300 EPS and its FY 2027 guidance at 2.000-2.100 EPS. As a group, equities research analysts anticipate that G-III Apparel Group will post 4.16 EPS for the current year.

G-III Apparel Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $0.40 annualized dividend and a dividend yield of 1.5%. G-III Apparel Group’s dividend payout ratio is presently 26.67%.

Institutional Investors Weigh In On G-III Apparel Group

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of G-III Apparel Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,228 shares of the textile maker’s stock valued at $635,000 after acquiring an additional 1,018 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of G-III Apparel Group by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,197 shares of the textile maker’s stock worth $2,193,000 after purchasing an additional 6,062 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of G-III Apparel Group by 14.1% during the first quarter. Intech Investment Management LLC now owns 46,076 shares of the textile maker’s stock worth $1,260,000 after purchasing an additional 5,685 shares in the last quarter. Strs Ohio bought a new position in shares of G-III Apparel Group in the first quarter worth approximately $77,000. Finally, Envestnet Asset Management Inc. raised its stake in G-III Apparel Group by 31.5% in the second quarter. Envestnet Asset Management Inc. now owns 18,990 shares of the textile maker’s stock valued at $425,000 after purchasing an additional 4,544 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.