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

According to Zacks, “G-III Apparel Group, Ltd. designs, manufactures, imports & markets an extensive range of leather & non-leather apparel including coats, jackets, pants, skirts & other sportswear items. “

Several other research firms have also weighed in on GIII. Stifel Nicolaus lifted their price objective on shares of G-III Apparel Group, LTD. from $20.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, September 7th. Buckingham Research restated a “buy” rating and set a $35.00 price target (up previously from $30.00) on shares of G-III Apparel Group, LTD. in a research note on Thursday, September 7th. Barclays PLC initiated coverage on shares of G-III Apparel Group, LTD. in a research note on Tuesday, September 19th. They issued an “underweight” rating and a $28.00 target price for the company. FBR & Co reiterated a “buy” rating and issued a $33.00 target price on shares of G-III Apparel Group, LTD. in a research note on Tuesday, September 5th. Finally, ValuEngine upgraded shares of G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $33.45.

G-III Apparel Group, LTD. (NASDAQ GIII) opened at $24.32 on Wednesday. The stock has a market cap of $1,190.00, a P/E ratio of 23.35, a PEG ratio of 1.15 and a beta of 0.21. G-III Apparel Group, LTD. has a 1 year low of $18.00 and a 1 year high of $32.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.75 and a quick ratio of 1.09.

G-III Apparel Group, LTD. (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, September 6th. The textile maker reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.11. The company had revenue of $538.00 million during the quarter, compared to analyst estimates of $522.45 million. G-III Apparel Group, LTD. had a net margin of 1.23% and a return on equity of 4.65%. G-III Apparel Group, LTD.’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. equities research analysts forecast that G-III Apparel Group, LTD. will post 1.36 earnings per share for the current fiscal year.

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In related news, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $29.56, for a total value of $1,478,000.00. Following the transaction, the chief operating officer now directly owns 269,531 shares of the company’s stock, valued at approximately $7,967,336.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Feller sold 5,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $29.31, for a total transaction of $146,550.00. Following the completion of the transaction, the director now directly owns 20,609 shares in the company, valued at $604,049.79. The disclosure for this sale can be found here. Insiders sold a total of 57,000 shares of company stock worth $1,682,990 over the last three months. 9.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 1492 Capital Management LLC lifted its holdings in G-III Apparel Group, LTD. by 105.3% during the third quarter. 1492 Capital Management LLC now owns 36,167 shares of the textile maker’s stock valued at $1,050,000 after purchasing an additional 18,549 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in G-III Apparel Group, LTD. during the third quarter valued at about $236,000. JPMorgan Chase & Co. lifted its holdings in G-III Apparel Group, LTD. by 48.9% during the third quarter. JPMorgan Chase & Co. now owns 79,445 shares of the textile maker’s stock valued at $2,324,000 after purchasing an additional 26,106 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in G-III Apparel Group, LTD. during the third quarter valued at about $221,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in G-III Apparel Group, LTD. during the third quarter valued at about $9,732,000. 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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