G-III Apparel Group, Ltd. (NASDAQ:GIII) Given Average Rating of “Hold” by Analysts

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $30.00.

GIII has been the subject of several research reports. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research report on Thursday, September 5th. Barclays boosted their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. KeyCorp raised their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Guggenheim initiated coverage on shares of G-III Apparel Group in a report on Wednesday. They set a “buy” rating and a $36.00 price target on the stock. Finally, StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Friday.

G-III Apparel Group Stock Up 0.3 %

Shares of G-III Apparel Group stock opened at $30.45 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68. The business’s fifty day moving average price is $28.27 and its two-hundred day moving average price is $27.86. The company has a market capitalization of $1.37 billion, a P/E ratio of 7.97 and a beta of 2.19.

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

Insiders Place Their Bets

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

A number of hedge funds and other institutional investors have recently made changes to their positions in GIII. Vanguard Group Inc. raised its position in G-III Apparel Group by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after acquiring an additional 292,668 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of G-III Apparel Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after purchasing an additional 151,425 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of G-III Apparel Group by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after purchasing an additional 155,079 shares in the last quarter. LSV Asset Management lifted its stake in shares of G-III Apparel Group by 0.6% in the 2nd quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock valued at $23,055,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in G-III Apparel Group by 142.8% in the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after purchasing an additional 206,993 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

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.