BidaskClub downgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a sell rating in a research note published on Friday morning, BidAskClub reports.

Other equities analysts have also issued reports about the stock. TheStreet lowered shares of G-III Apparel Group from a b- rating to a c+ rating in a research report on Wednesday, June 5th. Needham & Company LLC set a $47.00 price target on shares of G-III Apparel Group and gave the company a buy rating in a research note on Thursday, June 6th. Zacks Investment Research downgraded shares of G-III Apparel Group from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. ValuEngine downgraded shares of G-III Apparel Group from a hold rating to a sell rating in a research note on Monday, May 13th. Finally, Bank of America decreased their price target on shares of G-III Apparel Group from $43.00 to $35.00 and set a buy rating on the stock in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. G-III Apparel Group has a consensus rating of Hold and a consensus price target of $39.40.

Shares of GIII opened at $21.64 on Friday. The firm has a market capitalization of $1.00 billion, a PE ratio of 7.57, a PEG ratio of 0.58 and a beta of 1.39. The company’s 50-day moving average is $26.43 and its 200-day moving average is $32.73. G-III Apparel Group has a fifty-two week low of $19.89 and a fifty-two week high of $50.83. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.17 and a quick ratio of 1.17.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $633.60 million for the quarter, compared to analyst estimates of $650.03 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 earnings per share. Analysts predict that G-III Apparel Group will post 3.26 earnings per share for the current fiscal year.

In other G-III Apparel Group news, CEO Morris Goldfarb purchased 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were acquired at an average cost of $26.47 per share, for a total transaction of $1,058,800.00. Following the completion of the purchase, the chief executive officer now owns 3,250,483 shares of the company’s stock, valued at approximately $86,040,285.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. FTB Advisors Inc. acquired a new stake in G-III Apparel Group during the second quarter worth about $27,000. CenterStar Asset Management LLC acquired a new stake in G-III Apparel Group during the first quarter worth about $105,000. Price Wealth Management Inc. acquired a new stake in G-III Apparel Group during the second quarter worth about $113,000. Glen Harbor Capital Management LLC grew its stake in G-III Apparel Group by 14.7% during the second quarter. Glen Harbor Capital Management LLC now owns 4,608 shares of the textile maker’s stock worth $136,000 after buying an additional 592 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its stake in G-III Apparel Group by 15.8% during the second quarter. Riverhead Capital Management LLC now owns 5,131 shares of the textile maker’s stock worth $151,000 after buying an additional 700 shares in the last quarter.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, 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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