G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives Average Rating of “Reduce” from Brokerages

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been assigned a consensus recommendation of “Reduce” from the five ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.83.

GIII has been the subject of a number of research analyst reports. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Friday, March 22nd. Barclays restated an “underweight” rating and set a $23.00 price objective (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Finally, UBS Group decreased their price target on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, March 18th.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in G-III Apparel Group in the 3rd quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of G-III Apparel Group during the fourth quarter worth about $56,000. Castleview Partners LLC bought a new position in shares of G-III Apparel Group during the third quarter worth about $41,000. Quarry LP lifted its position in shares of G-III Apparel Group by 647.6% during the second quarter. Quarry LP now owns 1,712 shares of the textile maker’s stock worth $33,000 after purchasing an additional 1,483 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of G-III Apparel Group during the second quarter worth about $34,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Trading Up 1.3 %

Shares of GIII opened at $27.78 on Wednesday. The stock has a fifty day moving average of $30.40 and a two-hundred day moving average of $28.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.84. The company has a market capitalization of $1.27 billion, a PE ratio of 7.37 and a beta of 2.44. G-III Apparel Group has a fifty-two week low of $13.94 and a fifty-two week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. The company had revenue of $764.80 million during the quarter, compared to the consensus estimate of $816.98 million. G-III Apparel Group had a return on equity of 13.36% and a net margin of 5.69%. G-III Apparel Group’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. As a group, analysts forecast that G-III Apparel Group will post 3.55 EPS for the current year.

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.