Standpoint Research Downgrades G-III Apparel (GIII) to Hold; Making Moves in Retail

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.

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