G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $28.80 Average Price Target from Brokerages

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have earned a consensus rating of “Reduce” from the five research firms that are currently covering the stock, MarketBeat.com reports. Two research 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 1-year price objective among brokers that have issued a report on the stock in the last year is $28.80.

A number of research analysts have commented on the company. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Sunday. KeyCorp raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Telsey Advisory Group reissued 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. Finally, Barclays raised 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 report on Friday, September 6th.

Institutional Trading of G-III Apparel Group

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

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $31.57 on Wednesday. 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 fifty-two week low of $20.66 and a fifty-two week high of $35.68. The business has a 50 day moving average price of $27.35 and a 200-day moving average price of $27.68. The firm has a market cap of $1.42 billion, a PE ratio of 8.26 and a beta of 2.19.

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 business 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 company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Equities research analysts predict that G-III Apparel Group will post 4.01 earnings per share 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.