G-III Apparel Group (NASDAQ:GIII) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded G-III Apparel Group from a "hold" rating to a "strong sell" rating, indicating a negative outlook for the company's stock.
• The company's quarterly earnings showed a 25% increase in earnings per share compared to the consensus estimate, but revenues were down 4.9% year-over-year.
• G-III Apparel Group is trading at $26.90 with a market cap of $1.14 billion, amidst mixed ratings from analysts, including two Buy ratings and two Sell ratings.

Zacks Research cut shares of G-III Apparel Group (NASDAQ:GIII - Free Report) from a hold rating to a strong sell rating in a report released on Monday, September 8th,Zacks.com reports.

A number of other research analysts have also recently commented on the company. KeyCorp upped their price target on G-III Apparel Group from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $30.00 price objective (up previously from $27.00) on shares of G-III Apparel Group in a research report on Tuesday, September 2nd. Barclays upped their price objective on G-III Apparel Group from $18.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday, September 5th. Wall Street Zen lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, UBS Group cut their price objective on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.60.

G-III Apparel Group Stock Up 2.0%

NASDAQ:GIII traded up $0.53 during trading hours on Monday, reaching $27.09. 137,891 shares of the stock were exchanged, compared to its average volume of 634,505. The business has a 50-day moving average of $25.15 and a two-hundred day moving average of $25.30. G-III Apparel Group has a twelve month low of $20.33 and a twelve month high of $36.18. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.70 and a beta of 1.49.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The textile maker reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.15. G-III Apparel Group had a return on equity of 11.53% and a net margin of 5.84%.The company had revenue of $613.27 million for the quarter, compared to analysts' expectations of $568.67 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm's revenue was down 4.9% compared to the same quarter last year. G-III Apparel Group has set its Q3 2026 guidance at 1.430-1.630 EPS. FY 2026 guidance at 2.550-2.750 EPS. On average, research analysts forecast that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Insider Buying and Selling

In other G-III Apparel Group news, Director Amigo Victor Herrero bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were purchased at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director directly owned 54,746 shares of the company's stock, valued at $1,201,674.70. This represents a 10.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On G-III Apparel Group

Several hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC grew its holdings in shares of G-III Apparel Group by 193.1% during the second quarter. Squarepoint Ops LLC now owns 261,603 shares of the textile maker's stock worth $5,860,000 after purchasing an additional 172,352 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of G-III Apparel Group during the second quarter worth about $298,000. Public Sector Pension Investment Board grew its holdings in shares of G-III Apparel Group by 6.0% during the second quarter. Public Sector Pension Investment Board now owns 129,837 shares of the textile maker's stock worth $2,908,000 after purchasing an additional 7,340 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of G-III Apparel Group during the second quarter worth about $109,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of G-III Apparel Group by 852.9% during the second quarter. Tower Research Capital LLC TRC now owns 12,150 shares of the textile maker's stock worth $272,000 after purchasing an additional 10,875 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

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 through 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.