G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives Consensus Rating of “Hold” from Analysts

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

Several equities research analysts have weighed in on GIII shares. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Guggenheim assumed coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research report on Thursday, September 5th. KeyCorp lifted their target price on 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. Finally, Barclays upped their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th.

Insider Activity

In other news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.40% of the stock is currently owned by company insiders.

Institutional Trading of G-III Apparel Group

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in G-III Apparel Group by 7.4% in the third quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock worth $1,682,000 after purchasing an additional 3,806 shares during the period. Sanctuary Advisors LLC increased its position in shares of G-III Apparel Group by 8.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after buying an additional 1,126 shares in the last quarter. Virtu Financial LLC acquired a new stake in G-III Apparel Group during the 3rd quarter worth $211,000. Geode Capital Management LLC lifted its holdings in G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after acquiring an additional 11,196 shares in the last quarter. Finally, Vestcor Inc grew its stake in G-III Apparel Group by 197.7% in the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after acquiring an additional 20,800 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Up 0.0 %

NASDAQ GIII opened at $29.63 on Monday. The stock’s 50 day simple moving average is $30.54 and its 200 day simple moving average is $28.48. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68. The firm has a market cap of $1.30 billion, a PE ratio of 7.41 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.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

G-III Apparel Group Company Profile

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.