G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $30.00 Average PT from Analysts

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $30.00.

A number of research analysts have issued reports on the company. Barclays lifted their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a report on Thursday, September 5th. Guggenheim began coverage on G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price target for the company. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, KeyCorp lifted their price target on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th.

G-III Apparel Group Stock Down 1.3 %

Shares of NASDAQ GIII opened at $30.86 on Thursday. The stock has a market cap of $1.35 billion, a PE ratio of 7.72 and a beta of 2.19. The business has a fifty day moving average of $30.88 and a two-hundred day moving average of $28.35. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The company had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. As a group, equities research analysts expect that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIII. Foundry Partners LLC acquired a new position in shares of G-III Apparel Group during the 2nd quarter worth about $518,000. SG Americas Securities LLC grew its position in shares of G-III Apparel Group by 114.0% during the 1st quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock worth $1,054,000 after buying an additional 19,362 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of G-III Apparel Group during the 1st quarter worth about $913,000. Caxton Associates LP grew its position in shares of G-III Apparel Group by 283.2% during the 1st quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock worth $1,002,000 after buying an additional 25,535 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in shares of G-III Apparel Group by 167.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 53,814 shares of the textile maker’s stock worth $1,561,000 after buying an additional 33,690 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Company Profile

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.