G-III Apparel Group (NASDAQ:GIII) Stock Rating Lowered by Zacks Research

G-III Apparel Group (NASDAQ:GIII) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. BTIG Research raised their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Wall Street Zen raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. KeyCorp reiterated an “overweight” rating and issued a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a research note on Monday, June 8th. UBS Group reduced their target price on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Stock Performance

Shares of GIII opened at $35.21 on Tuesday. The stock has a 50-day moving average of $32.80 and a two-hundred day moving average of $30.67. G-III Apparel Group has a one year low of $22.91 and a one year high of $36.53. The stock has a market cap of $1.49 billion, a P/E ratio of 12.44 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.The business had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. During the same period in the prior year, the company earned $0.19 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. Analysts predict that G-III Apparel Group will post 2.24 EPS for the current fiscal year.

Institutional Trading of G-III Apparel Group

A number of institutional investors have recently made changes to their positions in GIII. GAMMA Investing LLC raised its stake in G-III Apparel Group by 107.7% in the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 488 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in G-III Apparel Group during the 4th quarter worth $34,000. Raymond James Financial Inc. acquired a new stake in G-III Apparel Group during the 2nd quarter worth $41,000. Parallel Advisors LLC grew its holdings in shares of G-III Apparel Group by 231.9% during the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after buying an additional 1,243 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of G-III Apparel Group during the first quarter worth $77,000. 92.13% of the stock is owned by institutional investors and hedge funds.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.