G-III Apparel Group (NASDAQ:GIII) Lowered to “C+” at TheStreet

TheStreet cut shares of G-III Apparel Group (NASDAQ:GIII) from a b- rating to a c+ rating in a report published on Wednesday, June 5th, TheStreetRatingsTable reports.

A number of other analysts have also recently commented on the stock. Bank of America set a $46.00 price objective on shares of G-III Apparel Group and gave the company a buy rating in a research report on Friday, March 22nd. Telsey Advisory Group restated an outperform rating and issued a $34.00 price objective (down previously from $47.00) on shares of G-III Apparel Group in a research report on Thursday, June 6th. BidaskClub upgraded G-III Apparel Group from a buy rating to a strong-buy rating in a report on Friday, February 22nd. Piper Jaffray Companies cut G-III Apparel Group from an overweight rating to a neutral rating and lowered their target price for the stock from $43.00 to $35.00 in a report on Tuesday, May 14th. Finally, Zacks Investment Research cut G-III Apparel Group from a hold rating to a sell rating in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. G-III Apparel Group presently has an average rating of Buy and a consensus target price of $41.70.

Shares of GIII stock traded up $0.85 during trading hours on Wednesday, reaching $29.42. The company had a trading volume of 1,729,121 shares, compared to its average volume of 1,144,223. The firm’s 50 day simple moving average is $28.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 2.17. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.81 and a beta of 1.37. G-III Apparel Group has a 1-year low of $23.34 and a 1-year high of $50.83.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. The business had revenue of $633.60 million during the quarter, compared to analysts’ expectations of $650.03 million. During the same quarter in the prior year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities analysts predict that G-III Apparel Group will post 3.27 earnings per share for the current fiscal year.

In other G-III Apparel Group news, Director Laura H. Pomerantz sold 821 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total transaction of $33,193.03. Following the completion of the sale, the director now directly owns 39,682 shares in the company, valued at $1,604,343.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Sammy Aaron sold 71,766 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $41.33, for a total transaction of $2,966,088.78. Following the sale, the insider now owns 434,969 shares of the company’s stock, valued at $17,977,268.77. The disclosure for this sale can be found here. Insiders sold a total of 74,692 shares of company stock valued at $3,086,681 over the last quarter. 8.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GIII. JPMorgan Chase & Co. increased its holdings in shares of G-III Apparel Group by 534.6% during the third quarter. JPMorgan Chase & Co. now owns 79,624 shares of the textile maker’s stock worth $3,837,000 after purchasing an additional 67,077 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of G-III Apparel Group by 19.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,795 shares of the textile maker’s stock worth $78,000 after purchasing an additional 461 shares during the period. Arizona State Retirement System increased its holdings in shares of G-III Apparel Group by 6.5% during the fourth quarter. Arizona State Retirement System now owns 64,607 shares of the textile maker’s stock worth $1,802,000 after purchasing an additional 3,967 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of G-III Apparel Group by 49.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,512 shares of the textile maker’s stock worth $265,000 after purchasing an additional 3,139 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of G-III Apparel Group by 21.2% during the fourth quarter. Rhumbline Advisers now owns 126,132 shares of the textile maker’s stock worth $3,518,000 after purchasing an additional 22,105 shares during the period.

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 in 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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