G-III Apparel Group (NASDAQ:GIII) Downgraded by BidaskClub to “Hold”

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G-III Apparel Group (NASDAQ:GIII) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, BidAskClub reports.

GIII has been the topic of a number of other reports. Needham & Company LLC set a $47.00 target price on G-III Apparel Group and gave the stock a “buy” rating in a research report on Thursday, June 6th. Zacks Investment Research lowered HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Bank of America set a $20.00 target price on Fiat Chrysler Automobiles and gave the stock a “hold” rating in a research report on Thursday, June 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $36.00 target price (down from $38.00) on shares of Steven Madden in a research report on Thursday, June 6th. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. One 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’s stock. The company has an average rating of “Buy” and a consensus target price of $41.70.

NASDAQ:GIII opened at $28.40 on Friday. The firm has a 50-day moving average of $27.25. The company has a quick ratio of 1.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.59. G-III Apparel Group has a 12 month low of $23.34 and a 12 month high of $50.83. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.81 and a beta of 1.40.

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 consensus estimate of $0.22 by $0.03. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. The company had revenue of $633.60 million for the quarter, compared to analyst estimates of $650.03 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts predict that G-III Apparel Group will post 3.27 EPS for the current fiscal year.

In other news, CEO Morris Goldfarb acquired 37,106 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $25.39 per share, with a total value of $942,121.34. Following the completion of the acquisition, the chief executive officer now directly owns 3,210,483 shares in the company, valued at $81,514,163.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in G-III Apparel Group by 2.3% in the fourth quarter. BlackRock Inc. now owns 6,147,989 shares of the textile maker’s stock valued at $171,469,000 after buying an additional 135,596 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in G-III Apparel Group by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,144,322 shares of the textile maker’s stock valued at $115,585,000 after buying an additional 58,455 shares during the last quarter. Victory Capital Management Inc. increased its holdings in G-III Apparel Group by 72.0% in the first quarter. Victory Capital Management Inc. now owns 1,553,760 shares of the textile maker’s stock valued at $62,088,000 after buying an additional 650,645 shares during the last quarter. Clark Capital Management Group Inc. increased its holdings in G-III Apparel Group by 47.0% in the first quarter. Clark Capital Management Group Inc. now owns 990,614 shares of the textile maker’s stock valued at $39,585,000 after buying an additional 316,781 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in G-III Apparel Group by 261.4% in the fourth quarter. Deutsche Bank AG now owns 579,761 shares of the textile maker’s stock valued at $16,168,000 after buying an additional 419,324 shares during the last quarter.

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

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