G-III Apparel Group (NASDAQ:GIII) Shares Gap Down on Analyst Downgrade

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report)'s stock price gapped down before the market opened on Monday after Barclays lowered their price target on the stock from $25.00 to $21.00. The stock had previously closed at $25.87, but opened at $25.31. Barclays currently has an underweight rating on the stock. G-III Apparel Group shares last traded at $25.67, with a volume of 49,578 shares.

GIII has been the topic of a number of other reports. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Telsey Advisory Group restated a "market perform" rating and set a $30.00 price objective on shares of G-III Apparel Group in a report on Friday, April 4th. Finally, UBS Group decreased their target price on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of "Hold" and an average price target of $32.20.

Institutional Trading of G-III Apparel Group

A number of hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC acquired a new position in G-III Apparel Group in the 4th quarter valued at approximately $49,000. Smartleaf Asset Management LLC increased its stake in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after acquiring an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth $68,000. DekaBank Deutsche Girozentrale acquired a new stake in G-III Apparel Group during the first quarter valued at $106,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in G-III Apparel Group by 18.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock valued at $117,000 after purchasing an additional 564 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Performance

The firm has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $29.36. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 6.71 and a beta of 1.63.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million for the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm's revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. As a group, sell-side analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

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 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.