G-III Apparel Group’s (GIII) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of G-III Apparel Group (NASDAQ:GIII) in a report published on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $32.00 target price on the textile maker’s stock.

GIII has been the subject of a number of other reports. KeyCorp raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Barclays boosted their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Guggenheim assumed coverage on shares of G-III Apparel Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus target price of $30.50.

G-III Apparel Group Trading Up 10.4 %

GIII stock opened at $34.87 on Tuesday. G-III Apparel Group has a 1-year low of $20.66 and a 1-year 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. The business’s 50 day moving average is $30.73 and its 200-day moving average is $28.68. The firm has a market cap of $1.53 billion, a P/E ratio of 8.72 and a beta of 2.14.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company posted $2.78 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts anticipate that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was 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 in the company, valued at $118,869,051.30. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after acquiring an additional 151,425 shares during the last quarter. American Century Companies Inc. grew its holdings in G-III Apparel Group by 15.6% during the second 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in G-III Apparel Group by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock worth $31,624,000 after purchasing an additional 6,598 shares during the period. Geode Capital Management LLC boosted its position in shares of G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after purchasing an additional 11,196 shares in the last quarter. Finally, LSV Asset Management grew its holdings 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 buying an additional 5,200 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.