G-III Apparel Group (NASDAQ:GIII) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a report issued on Saturday.

A number of other analysts have also issued reports on GIII. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price target (up from $29.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Weiss Ratings upgraded G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. BTIG Research lifted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, KeyCorp reiterated an “overweight” rating and issued a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Price Performance

Shares of GIII opened at $33.90 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 11.98 and a beta of 1.28. G-III Apparel Group has a 1-year low of $24.61 and a 1-year high of $37.54. The company has a 50-day moving average of $34.78 and a 200 day moving average of $31.56.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The business had revenue of $535.96 million for the quarter, compared to the consensus estimate of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. On average, equities analysts anticipate that G-III Apparel Group will post 2.24 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is presently 14.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GIII. BlackRock Inc. bought a new position in shares of G-III Apparel Group during the 2nd quarter worth approximately $232,832,000. Norges Bank acquired a new stake in G-III Apparel Group in the fourth quarter valued at approximately $36,200,000. Balyasny Asset Management L.P. purchased a new position in G-III Apparel Group in the second quarter worth $7,546,000. Bank of New York Mellon Corp purchased a new position in G-III Apparel Group in the second quarter worth $9,113,000. Finally, Barclays PLC increased its position in shares of G-III Apparel Group by 54.0% during the fourth quarter. Barclays PLC now owns 717,607 shares of the textile maker’s stock worth $20,782,000 after purchasing an additional 251,502 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.