G-III Apparel Group (NASDAQ:GIII) Stock Price Down 5.2%

G-III Apparel Group, Ltd. (NASDAQ:GIII) traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $27.06 and last traded at $27.14, 562,000 shares changed hands during mid-day trading. A decline of 16% from the average session volume of 669,792 shares. The stock had previously closed at $28.63.

Several analysts recently commented on GIII shares. Piper Jaffray Companies raised their price target on shares of G-III Apparel Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Zacks Investment Research upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research note on Wednesday, November 6th. ValuEngine upgraded shares of G-III Apparel Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Telsey Advisory Group lowered shares of G-III Apparel Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $34.00 to $20.00 in a research note on Tuesday, September 3rd. Finally, Needham & Company LLC lowered their price target on shares of G-III Apparel Group from $47.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. G-III Apparel Group presently has a consensus rating of “Hold” and a consensus target price of $28.30.

The company has a 50 day moving average of $26.56 and a 200 day moving average of $26.85. The firm has a market cap of $1.41 billion, a P/E ratio of 9.49, a PEG ratio of 1.25 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 2.08.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $643.90 million for the quarter, compared to analyst estimates of $656.16 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.37%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. As a group, analysts expect that G-III Apparel Group, Ltd. will post 3.19 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in G-III Apparel Group by 45.9% during the second quarter. Victory Capital Management Inc. now owns 2,266,955 shares of the textile maker’s stock worth $66,694,000 after buying an additional 713,195 shares during the last quarter. BlackRock Inc. boosted its stake in shares of G-III Apparel Group by 9.6% during the 2nd quarter. BlackRock Inc. now owns 6,841,163 shares of the textile maker’s stock worth $201,268,000 after acquiring an additional 599,647 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $14,552,000. Nuveen Asset Management LLC increased its holdings in shares of G-III Apparel Group by 46.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,181,061 shares of the textile maker’s stock valued at $34,747,000 after acquiring an additional 373,781 shares during the last quarter. Finally, Chartwell Investment Partners LLC acquired a new position in shares of G-III Apparel Group during the 2nd quarter valued at about $10,429,000.

About G-III Apparel Group (NASDAQ:GIII)

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.

Featured Story: What is a capital gain?

Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.