G-III Apparel Group, Ltd. (NASDAQ:GIII) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. raised its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,131 shares of the textile maker’s stock after purchasing an additional 3,806 shares during the quarter. Franklin Resources Inc. owned about 0.13% of G-III Apparel Group worth $1,682,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guidance Capital Inc. boosted its position in shares of G-III Apparel Group by 11.1% in the second quarter. Guidance Capital Inc. now owns 16,530 shares of the textile maker’s stock worth $456,000 after buying an additional 1,657 shares during the period. Privium Fund Management UK Ltd acquired a new stake in G-III Apparel Group during the second quarter valued at $1,514,000. Jackson Creek Investment Advisors LLC acquired a new stake in G-III Apparel Group during the second quarter valued at $1,095,000. Victory Capital Management Inc. boosted its position in G-III Apparel Group by 18.5% during the second quarter. Victory Capital Management Inc. now owns 87,842 shares of the textile maker’s stock valued at $2,378,000 after purchasing an additional 13,697 shares during the last quarter. Finally, Foundry Partners LLC bought a new position in G-III Apparel Group during the second quarter valued at about $518,000. 92.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GIII. KeyCorp raised their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price objective on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Guggenheim lifted their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.17.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $32.74 on Friday. The firm has a fifty day moving average of $31.60 and a two-hundred day moving average of $29.13. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 8.59 and a beta of 2.14. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 2.63.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned $2.78 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that G-III Apparel Group, Ltd. will post 4.15 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.