G-III Apparel Group, LTD. (NASDAQ:GIII) was downgraded by Standpoint Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued research reports about the company. Wunderlich reiterated a “buy” rating and set a $33.00 price target on shares of G-III Apparel Group, LTD. in a report on Tuesday, June 6th. Buckingham Research reiterated a “buy” rating and set a $28.00 price target on shares of G-III Apparel Group, LTD. in a report on Monday, July 17th. BidaskClub upgraded G-III Apparel Group, LTD. from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Stifel Nicolaus reiterated a “hold” rating and set a $20.00 price target on shares of G-III Apparel Group, LTD. in a report on Friday, May 26th. Finally, Zacks Investment Research upgraded G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating and set a $30.00 price target for the company in a report on Thursday, June 8th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $29.82.

G-III Apparel Group, LTD. (NASDAQ:GIII) traded down 5.137% during midday trading on Tuesday, hitting $25.205. The stock had a trading volume of 129,907 shares. The stock’s 50-day moving average is $25.00 and its 200-day moving average is $24.08. G-III Apparel Group, LTD. has a 1-year low of $18.00 and a 1-year high of $44.85. The stock has a market capitalization of $1.23 billion, a PE ratio of 30.813 and a beta of 0.33.

G-III Apparel Group, LTD. (NASDAQ:GIII) last announced its quarterly earnings results on Tuesday, June 6th. The textile maker reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.22. G-III Apparel Group, LTD. had a return on equity of 5.57% and a net margin of 1.58%. The business had revenue of $529 million during the quarter, compared to the consensus estimate of $497.88 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. G-III Apparel Group, LTD.’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that G-III Apparel Group, LTD. will post $1.26 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of GIII. BlackRock Inc. boosted its stake in shares of G-III Apparel Group, LTD. by 19,882.5% in the first quarter. BlackRock Inc. now owns 5,643,064 shares of the textile maker’s stock worth $123,528,000 after buying an additional 5,614,824 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of G-III Apparel Group, LTD. by 74.7% in the second quarter. Bank of New York Mellon Corp now owns 5,574,206 shares of the textile maker’s stock worth $139,077,000 after buying an additional 2,383,043 shares during the period. Vanguard Group Inc. boosted its stake in shares of G-III Apparel Group, LTD. by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,632,380 shares of the textile maker’s stock worth $90,628,000 after buying an additional 21,050 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of G-III Apparel Group, LTD. by 45.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock worth $72,478,000 after buying an additional 907,701 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its stake in shares of G-III Apparel Group, LTD. by 9.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,933,086 shares of the textile maker’s stock worth $48,231,000 after buying an additional 166,857 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

About G-III Apparel Group, LTD.

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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

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