Analysts Set G-III Apparel Group, Ltd. (NASDAQ:GIII) Target Price at $27.60

G-III Apparel Group, Ltd. (NASDAQ:GIII) has received an average recommendation of “Reduce” from the five brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $27.60.

Several research analysts recently issued reports on the stock. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. UBS Group reduced their target price on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Barclays restated an “underweight” rating and set a $23.00 price objective (down previously from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Finally, Wells Fargo & Company lowered their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors have recently bought and sold shares of GIII. Newbridge Financial Services Group Inc. purchased a new stake in shares of G-III Apparel Group during the first quarter valued at approximately $35,000. Quest Partners LLC bought a new stake in G-III Apparel Group in the fourth quarter worth about $56,000. DekaBank Deutsche Girozentrale bought a new position in shares of G-III Apparel Group during the 3rd quarter valued at approximately $97,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of G-III Apparel Group during the 1st quarter worth approximately $171,000. Finally, EMC Capital Management lifted its stake in G-III Apparel Group by 217.4% in the third quarter. EMC Capital Management now owns 7,935 shares of the textile maker’s stock valued at $198,000 after purchasing an additional 5,435 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $26.01 on Monday. The business has a 50-day moving average price of $28.28 and a two-hundred day moving average price of $30.04. G-III Apparel Group has a 1-year low of $18.47 and a 1-year high of $35.68. The company has a current ratio of 3.79, a quick ratio of 2.62 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.17 billion, a P/E ratio of 6.81 and a beta of 2.26.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.17. The business had revenue of $609.75 million during the quarter, compared to the consensus estimate of $615.10 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. As a group, analysts anticipate that G-III Apparel Group will post 3.63 EPS for the current year.

About G-III Apparel Group

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.