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

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been given an average recommendation of “Reduce” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $28.80.

A number of analysts have commented on GIII shares. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Barclays boosted their price target 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. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, KeyCorp boosted their price target 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.

G-III Apparel Group Trading Down 0.4 %

NASDAQ GIII opened at $31.71 on Wednesday. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68. The company has a 50-day simple moving average of $27.14 and a 200-day simple moving average of $27.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 2.92. The firm has a market capitalization of $1.43 billion, a PE ratio of 8.30 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate 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%. G-III Apparel Group’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. On average, equities analysts forecast that G-III Apparel Group will post 4.01 earnings per share for the current year.

Institutional Investors Weigh In On G-III Apparel Group

A number of large investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in G-III Apparel Group in the 2nd quarter valued at approximately $78,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in G-III Apparel Group in the 2nd quarter valued at approximately $42,000. Sanctuary Advisors LLC acquired a new position in G-III Apparel Group in the 2nd quarter valued at approximately $382,000. Point72 Asset Management L.P. acquired a new position in G-III Apparel Group in the 2nd quarter valued at approximately $2,409,000. Finally, AQR Capital Management LLC increased its stake in G-III Apparel Group by 37.9% in the 2nd quarter. AQR Capital Management LLC now owns 285,981 shares of the textile maker’s stock valued at $7,742,000 after buying an additional 78,607 shares during the period. Institutional investors and hedge funds 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.