G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $30.00 Consensus Price Target from Brokerages

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.00.

GIII has been the subject of a number of recent analyst reports. Guggenheim assumed coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective for the company. Barclays boosted their target price on shares of 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 reiterated a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. KeyCorp upped their price objective 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. Finally, StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd.

Insider Buying and Selling at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of G-III Apparel Group in the 1st quarter worth $171,000. Texas Permanent School Fund Corp boosted its position in shares of G-III Apparel Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after acquiring an additional 482 shares during the last quarter. Empowered Funds LLC lifted its position in G-III Apparel Group by 14.1% during the first quarter. Empowered Funds LLC now owns 197,332 shares of the textile maker’s stock valued at $5,725,000 after buying an additional 24,399 shares in the last quarter. SG Americas Securities LLC lifted its position in G-III Apparel Group by 114.0% during the first quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock valued at $1,054,000 after buying an additional 19,362 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of G-III Apparel Group by 10.5% during the first quarter. Illinois Municipal Retirement Fund now owns 26,459 shares of the textile maker’s stock worth $768,000 after purchasing an additional 2,504 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

G-III Apparel Group Trading Down 1.8 %

NASDAQ GIII opened at $30.86 on Thursday. The company has a fifty day simple moving average of $30.55 and a two-hundred day simple moving average of $28.30. The stock has a market cap of $1.35 billion, a P/E ratio of 7.72 and a beta of 2.19. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $35.68. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. The firm had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, analysts forecast that G-III Apparel Group will post 4.01 earnings per share 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.