Investment Analysts’ Recent Ratings Updates for G-III Apparel Group (GIII)

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G-III Apparel Group (NASDAQ: GIII) has recently received a number of price target changes and ratings updates:

  • 5/29/2020 – G-III Apparel Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. They now have a $12.00 price target on the stock. According to Zacks, “Although shares of G-III Apparel have lagged the industry in the past three months, the company’s attractive valuation, sound fundamentals and strategic initiatives cannot be ignored. It also boasts an earnings beat trend that continued in fourth-quarter fiscal 2020. Notably, DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld brands have been contributing to the company’s performance. Moreover, e-commerce business bodes well. However, it has been witnessing softness in its retail segment due to weak underlying brands and store closures. Nevertheless, management is on track with restructuring of retail operations, which will bring down the number of stores and cut losses from underperforming locations. Moreover, it has furlough associates, and temporarily cut salary to reinforce financial position amid the pandemic.”
  • 5/29/2020 – G-III Apparel Group was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 5/28/2020 – G-III Apparel Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $10.00 price target on the stock. According to Zacks, “Shares of G-III Apparel have slid and underperformed the industry in the past three months due to soft retail business. It has been witnessing softness across the retail segment for a while due to weak underlying brands and store closures. This has been weighing on its top line, which lagged the Zacks Consensus Estimate for sixth straight time in fourth-quarter fiscal 2020. Management informed that it has closed retail stores and corporate offices, and has been working remotely in view of the coronavirus outbreak. Consequently, sales from its retail partners and stores are facing the brunt. It did not provide fiscal 2021 outlook as well. Recently, the company has also decided to furlough majority of its retail and wholesale associates, and temporarily reduce annual salary to reinforce its financial position amid such tough times.”
  • 5/14/2020 – G-III Apparel Group was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 4/29/2020 – G-III Apparel Group was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 4/2/2020 – G-III Apparel Group was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.

Shares of GIII stock traded down $0.85 during mid-day trading on Monday, hitting $10.33. The stock had a trading volume of 1,604,000 shares, compared to its average volume of 1,183,173. G-III Apparel Group, Ltd. has a fifty-two week low of $2.96 and a fifty-two week high of $34.42. The firm has a market cap of $496.37 million, a PE ratio of 3.49, a PEG ratio of 1.03 and a beta of 2.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.23 and a quick ratio of 1.33. The company’s 50-day simple moving average is $9.77 and its 200-day simple moving average is $21.21.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, March 19th. The textile maker reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. G-III Apparel Group had a net margin of 4.55% and a return on equity of 12.74%. The company had revenue of $754.60 million during the quarter, compared to analysts’ expectations of $799.07 million. During the same quarter last year, the business earned $0.46 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect that G-III Apparel Group, Ltd. will post 0.87 EPS for the current year.

In related news, Director Thomas Brosig acquired 8,000 shares of G-III Apparel Group stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average price of $6.06 per share, for a total transaction of $48,480.00. Following the completion of the purchase, the director now directly owns 23,626 shares of the company’s stock, valued at $143,173.56. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Morris Goldfarb acquired 30,749 shares of G-III Apparel Group stock in a transaction that occurred on Friday, April 3rd. The stock was bought at an average price of $7.43 per share, with a total value of $228,465.07. Following the purchase, the chief executive officer now directly owns 3,236,875 shares of the company’s stock, valued at $24,049,981.25. The disclosure for this purchase can be found here. Insiders bought a total of 58,949 shares of company stock valued at $409,053 in the last 90 days. Company insiders own 9.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Tennessee Treasury Department lifted its stake in shares of G-III Apparel Group by 3.6% in the first quarter. State of Tennessee Treasury Department now owns 25,000 shares of the textile maker’s stock valued at $192,000 after purchasing an additional 866 shares during the period. Morgan Stanley lifted its stake in shares of G-III Apparel Group by 136.4% in the first quarter. Morgan Stanley now owns 582,838 shares of the textile maker’s stock valued at $4,488,000 after purchasing an additional 336,298 shares during the period. Twinbeech Capital LP acquired a new stake in shares of G-III Apparel Group in the first quarter valued at about $234,000. Voloridge Investment Management LLC acquired a new stake in shares of G-III Apparel Group in the first quarter valued at about $163,000. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of G-III Apparel Group in the first quarter valued at about $45,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

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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