G-III Apparel Group (NASDAQ:GIII) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a report published on Sunday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. BTIG Research restated a “buy” rating and issued a $40.00 target price on shares of G-III Apparel Group in a research note on Wednesday, September 2nd. KeyCorp reaffirmed an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of G-III Apparel Group in a research report on Friday, September 4th. Finally, Telsey Advisory Group lowered their price target on shares of G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Moderate Buy” and an average price target of $34.50.

G-III Apparel Group Stock Performance

GIII opened at $27.89 on Friday. The company has a 50 day moving average of $33.56 and a 200 day moving average of $31.72. The company has a market cap of $1.20 billion, a PE ratio of 9.17 and a beta of 1.27. G-III Apparel Group has a 12 month low of $24.61 and a 12 month high of $37.54.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $554.09 million for the quarter, compared to analysts’ expectations of $570.37 million. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.53%. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. Research analysts forecast that G-III Apparel Group will post 2.25 earnings per share for the current fiscal year.

G-III Apparel Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.4%. G-III Apparel Group’s dividend payout ratio is presently 13.16%.

Hedge Funds Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. bought a new stake in shares of G-III Apparel Group during the 2nd quarter valued at about $1,723,000. AlphaQuest LLC grew its holdings in shares of G-III Apparel Group by 251.4% during the fourth quarter. AlphaQuest LLC now owns 70,278 shares of the textile maker’s stock worth $2,035,000 after purchasing an additional 50,279 shares in the last quarter. SG Americas Securities LLC increased its position in shares of G-III Apparel Group by 149.8% in the first quarter. SG Americas Securities LLC now owns 52,390 shares of the textile maker’s stock worth $1,451,000 after purchasing an additional 31,420 shares during the last quarter. BlackRock Inc. bought a new position in shares of G-III Apparel Group in the second quarter worth approximately $232,832,000. Finally, GSA Capital Partners LLP purchased a new stake in G-III Apparel Group in the second quarter valued at approximately $1,143,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a global fashion company that designs, sources, and markets apparel, accessories, footwear, and related products. Its offerings include women’s and men’s clothing, handbags, footwear, outerwear, and other fashion products sold through department stores, specialty retailers, brand stores, and e-commerce channels.

The company owns and operates brands including DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin, and develops products under a portfolio of licensed brands.