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

Key Points

• Wall Street Zen downgraded G-III Apparel Group from “Buy” to “Hold,” while broader analyst coverage remains more positive, with a “Moderate Buy” consensus rating and an average price target of $34.50.
• G-III reported quarterly EPS of $0.26, exceeding estimates of $0.23, but revenue of $554.09 million fell short of expectations and declined 9.7% year over year.
• Shares opened at $27.89, below their 50-day moving average of $33.56 and 200-day average of $31.71; institutional investors own approximately 92.13% of the company.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

GIII has been the subject of several other research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of G-III Apparel Group in a research report on Friday, September 4th. Zacks Research downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. BTIG Research restated a "buy" rating and issued a $40.00 price target on shares of G-III Apparel Group in a report on Wednesday, September 2nd. KeyCorp restated an "overweight" rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Finally, Telsey Advisory Group lowered 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 report on Thursday, September 3rd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group presently has an average rating of "Moderate Buy" and an average target price of $34.50.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $27.89 on Friday. G-III Apparel Group has a 1 year low of $24.61 and a 1 year high of $37.54. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 9.17 and a beta of 1.27. The business has a fifty day moving average of $33.56 and a 200-day moving average of $31.71.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The firm had revenue of $554.09 million for the quarter, compared to analysts' expectations of $570.37 million. G-III Apparel Group had a return on equity of 5.53% and a net margin of 4.75%.The business's revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. 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, equities research analysts predict that G-III Apparel Group will post 2.25 EPS for the current year.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently bought and sold shares of GIII. Nykredit A S acquired a new stake in G-III Apparel Group during the second quarter worth about $33,000. Raymond James Financial Inc. bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $41,000. Allworth Financial LP bought a new position in G-III Apparel Group in the second quarter valued at approximately $50,000. Parallel Advisors LLC raised its position in G-III Apparel Group by 231.9% during the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker's stock valued at $52,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Strs Ohio acquired a new position in G-III Apparel Group during the first quarter valued at approximately $77,000. 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.

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