G-III Apparel Group (NASDAQ:GIII) Trading 2.2% Higher

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIIIGet Rating) traded up 2.2% on Friday . The company traded as high as $16.39 and last traded at $16.34. 20,693 shares were traded during trading, a decline of 97% from the average session volume of 725,796 shares. The stock had previously closed at $15.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on G-III Apparel Group from $31.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, July 15th. CL King dropped their price target on G-III Apparel Group from $45.00 to $26.00 in a report on Thursday, September 8th. Telsey Advisory Group dropped their price target on G-III Apparel Group from $25.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, September 8th. B. Riley dropped their price target on G-III Apparel Group from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Finally, Wells Fargo & Company started coverage on G-III Apparel Group in a research note on Monday, July 11th. They issued an “equal weight” rating and a $20.00 target price for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

G-III Apparel Group Trading Up 2.0 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.29 and a quick ratio of 2.36. The business has a 50 day moving average of $21.34 and a 200 day moving average of $23.96. The firm has a market capitalization of $774.56 million, a price-to-earnings ratio of 3.62 and a beta of 2.42.

G-III Apparel Group (NASDAQ:GIIIGet Rating) last posted its earnings results on Wednesday, September 7th. The textile maker reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.07). The business had revenue of $605.20 million for the quarter, compared to the consensus estimate of $592.53 million. G-III Apparel Group had a return on equity of 13.61% and a net margin of 7.26%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 3.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. AG bought a new position in G-III Apparel Group during the first quarter worth about $495,000. Public Sector Pension Investment Board boosted its position in shares of G-III Apparel Group by 1.2% during the fourth quarter. Public Sector Pension Investment Board now owns 89,025 shares of the textile maker’s stock worth $2,461,000 after buying an additional 1,040 shares during the period. Royce & Associates LP boosted its position in shares of G-III Apparel Group by 15.7% during the first quarter. Royce & Associates LP now owns 57,569 shares of the textile maker’s stock worth $1,557,000 after buying an additional 7,798 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of G-III Apparel Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 665,977 shares of the textile maker’s stock worth $18,408,000 after buying an additional 6,040 shares during the period. Finally, Tributary Capital Management LLC boosted its position in shares of G-III Apparel Group by 5.4% during the first quarter. Tributary Capital Management LLC now owns 651,598 shares of the textile maker’s stock worth $17,626,000 after buying an additional 33,394 shares during the period. 88.68% of the stock is currently owned by institutional investors.

About G-III Apparel Group

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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.

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