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

Zacks Research lowered shares of G-III Apparel Group (NASDAQ:GIII) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on GIII. UBS Group lowered their price objective on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. BTIG Research boosted their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 5th. 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. 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. Finally, Weiss Ratings upgraded G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Price Performance

Shares of GIII opened at $35.21 on Tuesday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.44 and a beta of 1.28. G-III Apparel Group has a 1 year low of $22.91 and a 1 year high of $36.53. The business’s 50 day simple moving average is $32.80 and its 200-day simple moving average is $30.67.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS 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 firm had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. During the same period in the prior year, the company earned $0.19 EPS. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. 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. On average, sell-side analysts expect that G-III Apparel Group will post 2.24 earnings per share for the current year.

G-III Apparel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, June 22nd. G-III Apparel Group’s payout ratio is 14.13%.

Institutional Trading of G-III Apparel Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its holdings in shares of G-III Apparel Group by 3.8% in the first quarter. Empowered Funds LLC now owns 286,375 shares of the textile maker’s stock valued at $7,933,000 after purchasing an additional 10,411 shares during the period. Segall Bryant & Hamill LLC purchased a new position in G-III Apparel Group during the 1st quarter worth $932,000. Edgestream Partners L.P. purchased a new position in G-III Apparel Group during the 1st quarter worth $5,756,000. Quantinno Capital Management LP raised its position in G-III Apparel Group by 16.8% during the 1st quarter. Quantinno Capital Management LP now owns 16,690 shares of the textile maker’s stock valued at $462,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Hound Partners LLC raised its position in G-III Apparel Group by 3.4% during the 1st quarter. Hound Partners LLC now owns 115,853 shares of the textile maker’s stock valued at $3,209,000 after purchasing an additional 3,849 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Company Profile

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.