Zions Bancorporation N.A. Purchases 9,329 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Zions Bancorporation N.A. lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 19.7% during the fourth quarter, Holdings Channel reports. The firm owned 56,577 shares of the textile maker’s stock after acquiring an additional 9,329 shares during the period. Zions Bancorporation N.A.’s holdings in G-III Apparel Group were worth $1,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its position in shares of G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock worth $500,000 after buying an additional 631 shares in the last quarter. Vestcor Inc lifted its holdings in G-III Apparel Group by 2.1% during the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock worth $1,043,000 after acquiring an additional 665 shares during the period. Atria Investments Inc boosted its position in G-III Apparel Group by 9.1% in the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock worth $264,000 after purchasing an additional 673 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 1,460 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GIII. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Guggenheim increased their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Barclays lowered their price target on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Tuesday, March 18th. Telsey Advisory Group reduced their price objective on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 14th. Finally, KeyCorp boosted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Stock Down 1.7 %

GIII opened at $27.11 on Wednesday. The company has a 50 day moving average of $28.76 and a 200 day moving average of $30.48. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The company has a market cap of $1.19 billion, a PE ratio of 7.12 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly 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. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $839.50 million during the quarter, compared to analysts’ expectations of $808.59 million. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

About G-III Apparel Group

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.