G-III Apparel Group (NASDAQ:GIII) Shares Gap Down Following Analyst Downgrade

G-III Apparel Group, Ltd. (NASDAQ:GIII) shares gapped down before the market opened on Monday after Barclays lowered their price target on the stock from $25.00 to $21.00. The stock had previously closed at $25.87, but opened at $25.31. Barclays currently has an underweight rating on the stock. G-III Apparel Group shares last traded at $25.67, with a volume of 49,578 shares changing hands.

Other analysts also recently issued reports about the company. UBS Group decreased their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $30.00 target price on shares of G-III Apparel Group in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.20.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund increased its stake in G-III Apparel Group by 15.9% in the first quarter. Illinois Municipal Retirement Fund now owns 20,617 shares of the textile maker’s stock valued at $564,000 after purchasing an additional 2,831 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of G-III Apparel Group by 11.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 133,980 shares of the textile maker’s stock valued at $3,664,000 after acquiring an additional 13,541 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of G-III Apparel Group by 5.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,600 shares of the textile maker’s stock worth $454,000 after acquiring an additional 861 shares during the period. RHS Financial LLC boosted its position in shares of G-III Apparel Group by 10.6% in the first quarter. RHS Financial LLC now owns 13,295 shares of the textile maker’s stock worth $364,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in G-III Apparel Group by 46.5% in the first quarter. Exchange Traded Concepts LLC now owns 49,357 shares of the textile maker’s stock valued at $1,350,000 after purchasing an additional 15,667 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

The company has a market cap of $1.12 billion, a PE ratio of 6.72 and a beta of 1.63. The stock’s 50 day simple moving average is $25.99 and its two-hundred day simple moving average is $29.53. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. As a group, research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.