Zacks Investment Management Makes New Investment in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Zacks Investment Management bought a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,330 shares of the textile maker's stock, valued at approximately $1,185,000. Zacks Investment Management owned about 0.08% of G-III Apparel Group at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GIII. XTX Topco Ltd acquired a new position in G-III Apparel Group in the 3rd quarter valued at about $213,000. Barclays PLC raised its stake in G-III Apparel Group by 236.4% in the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker's stock valued at $8,627,000 after purchasing an additional 198,647 shares during the last quarter. Geode Capital Management LLC raised its stake in G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker's stock valued at $29,833,000 after purchasing an additional 11,196 shares during the last quarter. Virtu Financial LLC acquired a new position in G-III Apparel Group in the 3rd quarter valued at about $211,000. Finally, Sanctuary Advisors LLC raised its stake in G-III Apparel Group by 8.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker's stock valued at $439,000 after purchasing an additional 1,126 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on GIII shares. UBS Group lowered their price target on 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. StockNews.com cut G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Telsey Advisory Group restated a "market perform" rating and issued a $30.00 price target on shares of G-III Apparel Group in a report on Friday, April 4th. Finally, Barclays lowered their price target on G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating for the company in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, G-III Apparel Group currently has an average rating of "Hold" and an average price target of $33.00.

G-III Apparel Group Trading Up 2.9 %

Shares of NASDAQ:GIII traded up $0.72 during trading on Thursday, reaching $25.41. 125,259 shares of the stock were exchanged, compared to its average volume of 553,718. 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, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 6.67 and a beta of 1.63. The firm's 50-day moving average price is $26.15 and its 200 day moving average price is $29.60.

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

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.