Standpoint Research Downgrades G-III Apparel (GIII) to Hold; Making Moves in Retail
Get Alerts GIII Hot Sheet
Price: $27.84 --0%
Rating Summary:
9 Buy, 8 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 11
Rating Summary:
9 Buy, 8 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 7 | New: 11
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Standpoint Research downgraded G-III Apparel (NASDAQ: GIII) from Buy to Hold.
Analyst, Ronnie Moas, said, "In late December / early January we added three names from the retail apparel and accessories industry. We closed out Perry Ellis (Nasdaq: PERY) on Mar 2 + 33.7% and + 2300 bps and we closed out Shoe Carnival (Nasdaq: SCVL) on Mar 22 + 30.9% and + 2200 bps. We are at this time closing out GIII at + 20% and + 640 bps. GIII has in effect been replaced with two discretionary names that we reinstated intra-day yesterday...Temper Pedic (NYSE: TPX) and Crocs (Nasdaq: CROX)...GIII is now fairly valued at 10X declining estimates for next year and 7% expected revenue growth...The shares probably have another 10% upside, but I have decided to play it safe and close the books on this trio of recommendations.
For an analyst ratings summary and ratings history on G-III Apparel click here. For more ratings news on G-III Apparel click here.
Shares of G-III Apparel closed at $28.34 yesterday.
Analyst, Ronnie Moas, said, "In late December / early January we added three names from the retail apparel and accessories industry. We closed out Perry Ellis (Nasdaq: PERY) on Mar 2 + 33.7% and + 2300 bps and we closed out Shoe Carnival (Nasdaq: SCVL) on Mar 22 + 30.9% and + 2200 bps. We are at this time closing out GIII at + 20% and + 640 bps. GIII has in effect been replaced with two discretionary names that we reinstated intra-day yesterday...Temper Pedic (NYSE: TPX) and Crocs (Nasdaq: CROX)...GIII is now fairly valued at 10X declining estimates for next year and 7% expected revenue growth...The shares probably have another 10% upside, but I have decided to play it safe and close the books on this trio of recommendations.
For an analyst ratings summary and ratings history on G-III Apparel click here. For more ratings news on G-III Apparel click here.
Shares of G-III Apparel closed at $28.34 yesterday.
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