G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $30.00 Consensus Target Price from Analysts

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

A number of research analysts recently weighed in on GIII shares. KeyCorp raised their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Guggenheim initiated coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price on the stock. Barclays lifted their price target on 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. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, 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 note on Thursday, September 5th.

G-III Apparel Group Trading Up 2.7 %

Shares of GIII stock opened at $31.33 on Friday. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 8.20 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The stock has a 50 day simple moving average of $28.54 and a 200-day simple moving average of $27.88.

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

Insiders Place Their Bets

In other news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

Institutional Trading of G-III Apparel Group

Several institutional investors have recently made changes to their positions in the company. Foundry Partners LLC acquired a new stake in G-III Apparel Group during the second quarter worth $518,000. SG Americas Securities LLC increased its position in shares of G-III Apparel Group by 114.0% during the 1st quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock worth $1,054,000 after purchasing an additional 19,362 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in G-III Apparel Group in the 1st quarter valued at about $913,000. Caxton Associates LP lifted its position in G-III Apparel Group by 283.2% in the first quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock valued at $1,002,000 after buying an additional 25,535 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in G-III Apparel Group by 167.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 53,814 shares of the textile maker’s stock worth $1,561,000 after buying an additional 33,690 shares during the period. Hedge funds and other institutional investors 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.