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

Key Points

• Wall Street Zen downgraded G-III Apparel Group from “Buy” to “Hold,” while analysts overall maintain an average “Hold” rating and a $33.00 price target.
• G-III shares opened at $33.90, near the consensus target, with a one-year trading range of $24.61 to $37.54. Other analysts remain mixed, with price targets generally ranging from $38 to $40.
• The company exceeded quarterly earnings and revenue expectations, reporting an adjusted loss of $0.21 per share versus the projected $0.30 loss and revenue of $535.96 million, though revenue declined 8.2% year over year.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also recently commented on GIII. BTIG Research boosted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Zacks Research lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Telsey Advisory Group reiterated a "market perform" rating and set a $38.00 price objective (up from $29.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Weiss Ratings raised G-III Apparel Group from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, June 9th. Finally, KeyCorp reissued an "overweight" rating and issued a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $33.00.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock opened at $33.90 on Friday. G-III Apparel Group has a 1 year low of $24.61 and a 1 year high of $37.54. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 11.98 and a beta of 1.28. The company has a 50-day moving average of $34.78 and a 200 day moving average of $31.56.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. G-III Apparel Group's quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. On average, equities analysts anticipate that G-III Apparel Group will post 2.24 EPS for the current year.

Institutional Trading of G-III Apparel Group

Several large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in G-III Apparel Group during the second quarter valued at $232,832,000. Dimensional Fund Advisors LP grew its stake in shares of G-III Apparel Group by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,957 shares of the textile maker's stock valued at $78,153,000 after purchasing an additional 15,500 shares during the period. Norges Bank bought a new stake in shares of G-III Apparel Group during the 4th quarter valued at about $36,200,000. LSV Asset Management increased its position in shares of G-III Apparel Group by 8.1% during the 4th quarter. LSV Asset Management now owns 1,237,469 shares of the textile maker's stock valued at $35,837,000 after purchasing an additional 93,236 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of G-III Apparel Group by 30.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker's stock valued at $28,054,000 after purchasing an additional 247,245 shares during the last quarter. 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 engaged in the design, sourcing, marketing and distribution of women's and men's apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies' apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company's product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.

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