G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $25.83 Average PT from Brokerages

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have received an average recommendation of “Reduce” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $25.83.

GIII has been the topic of several research reports. UBS Group decreased their target price on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research report on Friday, March 22nd. Wells Fargo & Company decreased their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th. Barclays restated an “underweight” rating and issued a $23.00 target price (down previously from $30.00) on shares of G-III Apparel Group in a research report on Monday, March 4th. Finally, TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th.

Hedge Funds Weigh In On G-III Apparel Group

A number of institutional investors have recently added to or reduced their stakes in GIII. National Bank of Canada FI purchased a new position in G-III Apparel Group during the third quarter worth approximately $62,000. SG Americas Securities LLC lifted its position in G-III Apparel Group by 160.9% during the third quarter. SG Americas Securities LLC now owns 26,909 shares of the textile maker’s stock worth $671,000 after buying an additional 16,595 shares in the last quarter. Artemis Investment Management LLP purchased a new position in G-III Apparel Group during the third quarter worth approximately $2,671,000. Everence Capital Management Inc. purchased a new stake in G-III Apparel Group in the third quarter valued at $226,000. Finally, Ziegler Capital Management LLC raised its position in G-III Apparel Group by 0.5% in the third quarter. Ziegler Capital Management LLC now owns 373,132 shares of the textile maker’s stock valued at $9,298,000 after purchasing an additional 2,026 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Up 4.0 %

Shares of GIII opened at $28.95 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.31 and a debt-to-equity ratio of 0.26. G-III Apparel Group has a 12 month low of $14.49 and a 12 month high of $35.68. The stock’s 50 day moving average is $29.33 and its two-hundred day moving average is $29.42. The firm has a market cap of $1.31 billion, a P/E ratio of 7.68 and a beta of 2.41.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, March 14th. The textile maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.67 by $0.09. G-III Apparel Group had a return on equity of 13.07% and a net margin of 5.69%. The company had revenue of $764.80 million for the quarter, compared to analyst estimates of $816.98 million. During the same period last year, the company earned $0.41 earnings per share. G-III Apparel Group’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts predict that G-III Apparel Group will post 3.55 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.