G-III Apparel Group, LTD. (NASDAQ:GIII) Receives $34.50 Average Target Price from Brokerages

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $34.50.

GIII has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of G-III Apparel Group in a research note on Friday, September 4th. Zacks Research lowered shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. BTIG Research restated a “buy” rating and set a $40.00 price target on shares of G-III Apparel Group in a research note on Wednesday, September 2nd. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $40.00 price objective (up from $35.00) on shares of G-III Apparel Group in a report on Monday, June 8th.

Insider Activity at G-III Apparel Group

In related news, CEO Morris Goldfarb purchased 40,000 shares of G-III Apparel Group stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $27.94 per share, for a total transaction of $1,117,600.00. Following the completion of the transaction, the chief executive officer owned 4,527,675 shares in the company, valued at $126,503,239.50. This trade represents a 0.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 15.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP boosted its position in shares of G-III Apparel Group by 330.4% in the second quarter. Engineers Gate Manager LP now owns 84,169 shares of the textile maker’s stock valued at $2,837,000 after acquiring an additional 64,615 shares during the period. Baird Financial Group Inc. grew its stake in G-III Apparel Group by 8.5% during the second quarter. Baird Financial Group Inc. now owns 266,791 shares of the textile maker’s stock valued at $8,994,000 after acquiring an additional 20,848 shares in the last quarter. Nykredit A S purchased a new position in G-III Apparel Group during the second quarter valued at approximately $33,000. Amundi bought a new stake in G-III Apparel Group during the 2nd quarter worth approximately $344,000. Finally, HighTower Advisors LLC bought a new stake in G-III Apparel Group during the 2nd quarter worth approximately $209,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Trading Down 0.4%

NASDAQ:GIII opened at $27.57 on Friday. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.07 and a beta of 1.27. The firm’s 50 day moving average is $32.93 and its 200 day moving average is $31.60. 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 announced its quarterly earnings data on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. The business had revenue of $554.09 million during the quarter, compared to analyst estimates of $570.37 million. G-III Apparel Group had a return on equity of 5.53% and a net margin of 4.75%.G-III Apparel Group’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. 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 predict that G-III Apparel Group will post 2.25 earnings per share for the current year.

G-III Apparel Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.5%. G-III Apparel Group’s dividend payout ratio is currently 13.16%.

About G-III Apparel Group

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.