Shares of G-III Apparel Group Ltd. (NASDAQ:GIII) dropped 6.6% during mid-day trading on Monday . The company traded as low as $46.58 and last traded at $46.87, with a volume of 1,160,873 shares. The stock had previously closed at $50.16.

GIII has been the subject of a number of recent analyst reports. Piper Jaffray Cos. cut their price objective on G-III Apparel Group to $48.00 in a research report on Thursday, June 2nd. Cowen and Company reaffirmed a “buy” rating on shares of G-III Apparel Group in a research report on Sunday, May 22nd. Stephens reaffirmed a “buy” rating on shares of G-III Apparel Group in a research report on Thursday, May 12th. Brean Capital began coverage on G-III Apparel Group in a research report on Tuesday, June 21st. They issued a “buy” rating and a $51.00 target price for the company. Finally, Zacks Investment Research raised G-III Apparel Group from a “sell” rating to a “hold” rating in a research report on Friday, June 24th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $58.69.

The stock’s 50-day moving average is $45.88 and its 200 day moving average is $46.07. The company has a market capitalization of $1.96 billion and a price-to-earnings ratio of 18.18.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Wednesday, June 1st. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The company had revenue of $457.40 million for the quarter, compared to the consensus estimate of $473.22 million. During the same quarter last year, the business earned $0.15 earnings per share. G-III Apparel Group’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that G-III Apparel Group Ltd. will post $2.58 earnings per share for the current fiscal year.

Several institutional investors have bought and sold shares of the company. Sawtooth Asset Management Inc. raised its position in G-III Apparel Group by 14,102.7% in the fourth quarter. Sawtooth Asset Management Inc. now owns 25,991 shares of the company’s stock worth $1,150,000 after buying an additional 25,808 shares during the last quarter. Rhumbline Advisers raised its position in G-III Apparel Group by 8.2% in the fourth quarter. Rhumbline Advisers now owns 52,309 shares of the company’s stock worth $2,315,000 after buying an additional 3,970 shares during the last quarter. Comerica Bank raised its position in G-III Apparel Group by 42.2% in the fourth quarter. Comerica Bank now owns 57,187 shares of the company’s stock worth $2,481,000 after buying an additional 16,957 shares during the last quarter. California State Teachers Retirement System raised its position in G-III Apparel Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 73,905 shares of the company’s stock worth $3,271,000 after buying an additional 1,162 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in G-III Apparel Group by 46.0% in the fourth quarter. State of Tennessee Treasury Department now owns 98,100 shares of the company’s stock worth $4,342,000 after buying an additional 30,900 shares during the last quarter.

G-III Apparel Group, Ltd. (G-III) designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations, which consists of its licensed products and non-licensed products, and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under its own brands and private label brands, and retail operations, which consists of the Wilsons Leather and G.H.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.