G-III Apparel Group (NASDAQ:GIII) Shares Gap Down - Time to Sell?

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $27.67, but opened at $24.52. G-III Apparel Group shares last traded at $23.23, with a volume of 363,724 shares.

Analyst Ratings Changes

Several research analysts have recently commented on GIII shares. Wall Street Zen raised G-III Apparel Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 31st. Barclays lowered their price target on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, April 28th. Telsey Advisory Group reiterated a "market perform" rating and set a $30.00 price objective on shares of G-III Apparel Group in a report on Monday. Finally, UBS Group dropped their target price on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, G-III Apparel Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.20.

G-III Apparel Group Trading Down 14.0%

The company's fifty day moving average is $26.24 and its two-hundred day moving average is $28.80. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 6.25 and a beta of 1.48.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $583.61 million for the quarter, compared to analyst estimates of $579.48 million. During the same period in the prior year, the business posted $0.12 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GIII. Strs Ohio bought a new stake in shares of G-III Apparel Group in the first quarter valued at about $77,000. Intech Investment Management LLC grew its holdings in shares of G-III Apparel Group by 14.1% during the 1st quarter. Intech Investment Management LLC now owns 46,076 shares of the textile maker's stock worth $1,260,000 after purchasing an additional 5,685 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of G-III Apparel Group by 8.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,197 shares of the textile maker's stock worth $2,193,000 after purchasing an additional 6,062 shares in the last quarter. Optimize Financial Inc acquired a new position in shares of G-III Apparel Group in the first quarter valued at $762,000. Finally, Empowered Funds LLC boosted its holdings in G-III Apparel Group by 0.3% during the first quarter. Empowered Funds LLC now owns 340,747 shares of the textile maker's stock valued at $9,319,000 after purchasing an additional 1,146 shares in the last quarter. 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.

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