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

G-III Apparel Group (NASDAQ:GIII - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued on Saturday.

Other research analysts have also issued research reports about the stock. Telsey Advisory Group dropped their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a research report on Monday, June 9th. Barclays dropped their price target on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, June 9th. KeyCorp dropped their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Finally, UBS Group dropped their price target on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, G-III Apparel Group currently has a consensus rating of "Hold" and an average price target of $27.80.

G-III Apparel Group Stock Performance

Shares of GIII traded down $0.71 during trading hours on Friday, reaching $20.54. 1,217,136 shares of the company traded hands, compared to its average volume of 571,834. The stock's fifty day moving average is $25.78 and its 200 day moving average is $28.47. The stock has a market cap of $901.36 million, a P/E ratio of 5.39 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group has a 1-year low of $20.37 and a 1-year high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $583.61 million during the quarter, compared to analyst estimates of $579.48 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. Equities research analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of G-III Apparel Group by 11.1% in the first quarter. American Century Companies Inc. now owns 1,624,350 shares of the textile maker's stock valued at $44,426,000 after acquiring an additional 162,904 shares during the last quarter. Millennium Management LLC raised its stake in shares of G-III Apparel Group by 139.3% in the first quarter. Millennium Management LLC now owns 953,185 shares of the textile maker's stock valued at $26,070,000 after acquiring an additional 554,933 shares during the last quarter. LSV Asset Management raised its position in G-III Apparel Group by 13.2% in the 1st quarter. LSV Asset Management now owns 846,904 shares of the textile maker's stock worth $23,163,000 after purchasing an additional 98,923 shares during the last quarter. Prudential Financial Inc. raised its position in G-III Apparel Group by 2.6% in the 4th quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker's stock worth $25,197,000 after purchasing an additional 19,723 shares during the last quarter. Finally, Marshall Wace LLP raised its position in G-III Apparel Group by 80.6% in the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock worth $24,989,000 after purchasing an additional 341,870 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. 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.