G-III Apparel Group, LTD. (NASDAQ:GIII) Cut to Hold at Zacks Investment Research

G-III Apparel Group, LTD. (NASDAQ:GIII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, August 8th.

According to Zacks, “G-III Apparel Group, Ltd. designs, manufactures, imports & markets an extensive range of leather & non-leather apparel including coats, jackets, pants, skirts & other sportswear items. “

Several other research analysts have also recently weighed in on GIII. BidaskClub raised G-III Apparel Group, LTD. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Telsey Advisory Group upped their price target on G-III Apparel Group, LTD. from $24.00 to $27.00 and gave the company a “market perform” rating in a research report on Wednesday, June 7th. Cowen and Company upped their price target on G-III Apparel Group, LTD. from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, June 7th. Piper Jaffray Companies set a $22.00 price target on G-III Apparel Group, LTD. and gave the company a “hold” rating in a research report on Tuesday, June 6th. Finally, Buckingham Research reaffirmed a “buy” rating and set a $28.00 price target on shares of G-III Apparel Group, LTD. in a research report on Monday, July 17th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.82.

G-III Apparel Group, LTD. (NASDAQ GIII) traded up 2.26% during midday trading on Tuesday, hitting $23.94. The stock had a trading volume of 990,600 shares. The stock has a market capitalization of $1.16 billion, a PE ratio of 29.27 and a beta of 0.33. The stock’s 50-day moving average is $24.86 and its 200-day moving average is $24.06. G-III Apparel Group, LTD. has a 1-year low of $18.00 and a 1-year high of $44.85.

G-III Apparel Group, LTD. (NASDAQ:GIII) last posted its quarterly earnings data on Tuesday, June 6th. The textile maker reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.22. G-III Apparel Group, LTD. had a return on equity of 5.57% and a net margin of 1.58%. The business had revenue of $529 million for the quarter, compared to analysts’ expectations of $497.88 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts anticipate that G-III Apparel Group, LTD. will post $1.26 EPS for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in G-III Apparel Group, LTD. by 19,882.5% in the first quarter. BlackRock Inc. now owns 5,643,064 shares of the textile maker’s stock valued at $123,528,000 after buying an additional 5,614,824 shares during the last quarter. Bank of New York Mellon Corp raised its position in G-III Apparel Group, LTD. by 74.7% in the second quarter. Bank of New York Mellon Corp now owns 5,574,206 shares of the textile maker’s stock valued at $139,077,000 after buying an additional 2,383,043 shares during the last quarter. Vanguard Group Inc. raised its position in G-III Apparel Group, LTD. by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,632,380 shares of the textile maker’s stock valued at $90,628,000 after buying an additional 21,050 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in G-III Apparel Group, LTD. by 45.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock valued at $72,478,000 after buying an additional 907,701 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its stake in G-III Apparel Group, LTD. by 9.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,933,086 shares of the textile maker’s stock valued at $48,231,000 after buying an additional 166,857 shares during the period. Institutional investors and hedge funds own 99.38% of the company’s stock.

About G-III Apparel Group, LTD.

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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Analyst Recommendations for G-III Apparel Group, LTD. (NASDAQ:GIII)

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