G-III Apparel Group (GIII) Downgraded by ValuEngine to Hold

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ValuEngine 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 Friday.

Other equities research analysts also recently issued research reports about the stock. TheStreet upgraded shares of G-III Apparel Group from a c+ rating to a b- rating in a research note on Tuesday, June 26th. Needham & Company LLC initiated coverage on shares of G-III Apparel Group in a research note on Thursday, June 21st. They issued a buy rating and a $53.00 target price on the stock. Buckingham Research boosted their target price on shares of G-III Apparel Group from $45.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, June 6th. Cowen set a $54.00 target price on shares of G-III Apparel Group and gave the company a buy rating in a research note on Wednesday, June 6th. Finally, BidaskClub downgraded shares of G-III Apparel Group from a strong-buy rating to a buy rating in a research note on Tuesday, July 3rd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $51.91.

Shares of NASDAQ:GIII traded down $2.00 on Friday, hitting $44.05. The stock had a trading volume of 1,464,982 shares, compared to its average volume of 680,437. G-III Apparel Group has a twelve month low of $23.19 and a twelve month high of $51.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.33 and a current ratio of 2.35. The company has a market capitalization of $2.26 billion, a PE ratio of 27.53, a P/E/G ratio of 1.19 and a beta of 0.17.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 6th. The textile maker reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.19. G-III Apparel Group had a net margin of 3.39% and a return on equity of 10.63%. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $590.16 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. analysts forecast that G-III Apparel Group will post 2.57 EPS for the current year.

In related news, Director Bokhorst Willem Van sold 2,000 shares of the company’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $47.00, for a total transaction of $94,000.00. Following the transaction, the director now owns 54,774 shares in the company, valued at approximately $2,574,378. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Morris Goldfarb sold 161,190 shares of the company’s stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $47.11, for a total transaction of $7,593,660.90. Following the transaction, the chief executive officer now owns 3,812,427 shares in the company, valued at approximately $179,603,435.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 942,513 shares of company stock worth $44,534,646. 9.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Wealth Management LLC acquired a new position in G-III Apparel Group during the 2nd quarter worth about $1,157,000. Brown Advisory Inc. acquired a new position in G-III Apparel Group during the 1st quarter worth about $264,000. Rhumbline Advisers lifted its position in G-III Apparel Group by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 104,704 shares of the textile maker’s stock worth $4,649,000 after buying an additional 1,677 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in G-III Apparel Group by 24.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,601 shares of the textile maker’s stock worth $1,078,000 after buying an additional 5,676 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in G-III Apparel Group by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 333,867 shares of the textile maker’s stock worth $12,580,000 after buying an additional 11,171 shares in the last quarter.

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.

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

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