Analysts Set G-III Apparel Group, Ltd. (NASDAQ:GIII) Price Target at $30.00

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been assigned an average recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $30.00.

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

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 shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the sale, the chief executive officer now owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On G-III Apparel Group

A number of institutional investors have recently bought and sold shares of GIII. Allspring Global Investments Holdings LLC acquired a new stake in G-III Apparel Group during the first quarter worth $171,000. Texas Permanent School Fund Corp boosted its stake in G-III Apparel Group by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after buying an additional 482 shares in the last quarter. Empowered Funds LLC boosted its stake 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 worth $5,725,000 after buying an additional 24,399 shares in the last quarter. SG Americas Securities LLC boosted its stake 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 worth $1,054,000 after buying an additional 19,362 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in 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 buying 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 1.3 %

Shares of NASDAQ GIII opened at $30.86 on Thursday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 7.72 and a beta of 2.19. The business has a 50 day simple moving average of $30.88 and a 200 day simple moving average of $28.35. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $35.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.27 by $0.25. The business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. On average, research analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current fiscal 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.