Zacks Investment Research Lowers G-III Apparel Group (GIII) to Sell

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Zacks Investment Research cut shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a sell rating in a research note published on Tuesday morning.

According to Zacks, “Shares of G-III Apparel have decreased and underperformed the industry in the past six months. In fact, third-quarter fiscal 2019 results marked the company’s first top-line miss in a long time. The company has been grappling with sluggishness in the retail category, thanks to weakness in underlying brands and store closures. During the third quarter, retail segment net sales fell 7% due to decline across Wilsons and G.H. Bass stores. Moreover, stiff competition and foreign exchange fluctuations remain woes. Nevertheless, the company’s bottom line beat the estimate and improved year over year in the third quarter. Performance in the said period gained from a robust wholesale business as well as strength in DKNY stores. Further, management is impressed with growth witnessed at DKNY and Donna Karan brands. It has been undertaking efforts to expend these banners globally, mainly through augmenting licensing capabilities.”

A number of other analysts also recently commented on the company. BidaskClub downgraded G-III Apparel Group from a strong-buy rating to a buy rating in a research note on Tuesday, March 5th. Bank of America assumed coverage on G-III Apparel Group in a research note on Friday, March 1st. They issued a buy rating and a $45.00 price objective on the stock. ValuEngine raised G-III Apparel Group from a strong sell rating to a sell rating in a research note on Thursday, January 17th. Barclays reissued a hold rating and issued a $36.00 price objective on shares of G-III Apparel Group in a research note on Sunday, January 13th. Finally, Piper Jaffray Companies set a $40.00 target price on G-III Apparel Group and gave the stock a buy rating in a report on Monday, December 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $46.50.

GIII opened at $37.75 on Tuesday. G-III Apparel Group has a one year low of $25.43 and a one year high of $51.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 2.54. The firm has a market capitalization of $1.93 billion, a PE ratio of 13.61, a PEG ratio of 0.62 and a beta of 0.97.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, March 21st. The textile maker reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.11. G-III Apparel Group had a return on equity of 12.94% and a net margin of 4.49%. The company had revenue of $766.80 million for the quarter, compared to the consensus estimate of $767.89 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts forecast that G-III Apparel Group will post 3.14 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of G-III Apparel Group by 2.3% in the 4th quarter. BlackRock Inc. now owns 6,147,989 shares of the textile maker’s stock worth $171,469,000 after acquiring an additional 135,596 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of G-III Apparel Group by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,346,116 shares of the textile maker’s stock worth $209,439,000 after acquiring an additional 426,960 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of G-III Apparel Group by 10.9% in the 3rd quarter. Vanguard Group Inc now owns 4,346,116 shares of the textile maker’s stock worth $209,439,000 after acquiring an additional 426,960 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of G-III Apparel Group by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,322 shares of the textile maker’s stock worth $115,585,000 after acquiring an additional 58,455 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of G-III Apparel Group by 20.1% in the 3rd quarter. FMR LLC now owns 3,239,941 shares of the textile maker’s stock worth $156,132,000 after acquiring an additional 543,174 shares during the last quarter.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, 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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