Analysts Set G-III Apparel Group, Ltd. (NASDAQ:GIII) PT at $28.80

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been given an average rating of “Reduce” by the five ratings firms that are presently covering the company, Marketbeat.com 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 price target among analysts that have issued a report on the stock in the last year is $28.80.

GIII has been the topic of several recent research reports. Barclays increased their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, KeyCorp lifted 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 research report on Friday, September 6th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GIII. Newbridge Financial Services Group Inc. purchased a new stake in G-III Apparel Group in the first quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of G-III Apparel Group in the 2nd quarter worth $42,000. CWM LLC grew its holdings in shares of G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares during the period. Quest Partners LLC purchased a new stake in G-III Apparel Group during the fourth quarter valued at $56,000. Finally, Point72 DIFC Ltd bought a new position in G-III Apparel Group in the second quarter valued at about $78,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $31.71 on Wednesday. The business’s fifty day moving average is $27.03 and its 200 day moving average is $27.66. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 8.30 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 2.92. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) 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 the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. Research analysts predict that G-III Apparel Group will post 4.01 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.