BidaskClub Downgrades G-III Apparel Group (NASDAQ:GIII) to Hold

BidaskClub lowered shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research note published on Saturday, April 13th, BidAskClub reports.

GIII has been the subject of a number of other reports. Bank of America set a $46.00 price objective on G-III Apparel Group and gave the stock a buy rating in a report on Friday, March 22nd. Zacks Investment Research lowered G-III Apparel Group from a hold rating to a sell rating in a research note on Friday, February 22nd. Barclays reaffirmed a hold rating and set a $36.00 price target on shares of G-III Apparel Group in a research note on Sunday, January 13th. ValuEngine raised G-III Apparel Group from a strong sell rating to a sell rating in a research note on Thursday, January 17th. Finally, Piper Jaffray Companies set a $40.00 price target on G-III Apparel Group and gave the company a buy rating in a research note on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $47.00.

Shares of G-III Apparel Group stock traded up $1.01 on Friday, reaching $43.41. 284,654 shares of the company were exchanged, compared to its average volume of 343,888. The company has a current ratio of 2.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.88 and a beta of 1.00. G-III Apparel Group has a 1-year low of $25.43 and a 1-year high of $51.20.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 21st. The textile maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. G-III Apparel Group had a return on equity of 12.74% and a net margin of 4.49%. The business had revenue of $766.80 million for the quarter, compared to analysts’ expectations of $767.89 million. During the same period in the prior year, the firm earned $0.26 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that G-III Apparel Group will post 3.3 earnings per share for the current year.

In other G-III Apparel Group news, Director Laura H. Pomerantz sold 2,105 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $41.52, for a total transaction of $87,399.60. Following the transaction, the director now directly owns 36,756 shares in the company, valued at $1,526,109.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Sammy Aaron sold 71,766 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $41.33, for a total value of $2,966,088.78. Following the completion of the sale, the insider now directly owns 434,969 shares in the company, valued at $17,977,268.77. The disclosure for this sale can be found here. Insiders sold 74,692 shares of company stock valued at $3,086,681 in the last 90 days. Corporate insiders own 9.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in GIII. Victory Capital Management Inc. grew its position in G-III Apparel Group by 72.0% during the first quarter. Victory Capital Management Inc. now owns 1,553,760 shares of the textile maker’s stock worth $62,088,000 after buying an additional 650,645 shares in the last quarter. Norges Bank acquired a new stake in G-III Apparel Group during the fourth quarter worth about $13,887,000. Vanguard Group Inc grew its position in G-III Apparel Group by 10.9% during the third quarter. Vanguard Group Inc now owns 4,346,116 shares of the textile maker’s stock worth $209,439,000 after buying an additional 426,960 shares in the last quarter. Vanguard Group Inc. grew its position in G-III Apparel Group by 10.9% during the third quarter. Vanguard Group Inc. now owns 4,346,116 shares of the textile maker’s stock worth $209,439,000 after buying an additional 426,960 shares in the last quarter. Finally, Deutsche Bank AG grew its position in G-III Apparel Group by 261.4% during the fourth quarter. Deutsche Bank AG now owns 579,761 shares of the textile maker’s stock worth $16,168,000 after buying an additional 419,324 shares in the last quarter.

About G-III Apparel Group

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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