G-III Apparel Group (NASDAQ:GIII) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.

Several other equities research analysts have also commented on GIII. Telsey Advisory Group decreased their price target on G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, September 3rd. BTIG Research reaffirmed a “buy” rating and issued a $40.00 price objective on shares of G-III Apparel Group in a research note on Wednesday, September 2nd. KeyCorp reaffirmed an “overweight” rating and set a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of G-III Apparel Group in a research report on Friday, September 4th. Finally, Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, G-III Apparel Group presently has an average rating of “Moderate Buy” and an average price target of $34.50.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $27.76 on Friday. G-III Apparel Group has a one year low of $24.61 and a one year high of $37.54. The firm has a market capitalization of $1.19 billion, a P/E ratio of 9.13 and a beta of 1.27. The company’s fifty day moving average is $33.32 and its two-hundred day moving average is $31.67.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.53%. The business had revenue of $554.09 million during the quarter, compared to the consensus estimate of $570.37 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue was down 9.7% compared to the same quarter last year. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. On average, sell-side analysts forecast that G-III Apparel Group will post 2.25 earnings per share for the current fiscal year.

G-III Apparel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.10 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. G-III Apparel Group’s dividend payout ratio is currently 13.16%.

Insider Activity at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb acquired 40,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $27.94 per share, with a total value of $1,117,600.00. Following the purchase, the chief executive officer directly owned 4,527,675 shares in the company, valued at approximately $126,503,239.50. This trade represents a 0.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 15.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On G-III Apparel Group

A number of institutional investors and hedge funds have recently bought and sold shares of GIII. Engineers Gate Manager LP grew its holdings in G-III Apparel Group by 330.4% during the 2nd quarter. Engineers Gate Manager LP now owns 84,169 shares of the textile maker’s stock valued at $2,837,000 after buying an additional 64,615 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of G-III Apparel Group by 8.5% in the second quarter. Baird Financial Group Inc. now owns 266,791 shares of the textile maker’s stock worth $8,994,000 after acquiring an additional 20,848 shares during the last quarter. Nykredit A S acquired a new position in shares of G-III Apparel Group in the second quarter worth $33,000. Amundi purchased a new stake in shares of G-III Apparel Group in the second quarter valued at $344,000. Finally, HighTower Advisors LLC purchased a new stake in shares of G-III Apparel Group in the second quarter valued at $209,000. Hedge funds and other 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 that designs, sources, and markets apparel, accessories, footwear, and related products. Its offerings include women’s and men’s clothing, handbags, footwear, outerwear, and other fashion products sold through department stores, specialty retailers, brand stores, and e-commerce channels.

The company owns and operates brands including DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin, and develops products under a portfolio of licensed brands.