G-III Apparel Group, Ltd. (NASDAQ:GIII) Given Average Recommendation of “Reduce” by Analysts

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been given an average rating of “Reduce” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research 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 1 year price objective among brokers that have updated their coverage on the stock in the last year is $27.60.

A number of equities research analysts recently commented on the company. UBS Group decreased their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Wells Fargo & Company decreased their price objective on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, March 15th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Monday, June 3rd.

G-III Apparel Group Trading Down 0.4 %

GIII stock opened at $26.47 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of 6.93 and a beta of 2.24. G-III Apparel Group has a twelve month low of $18.47 and a twelve month high of $35.68. The company has a quick ratio of 2.62, a current ratio of 3.79 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $27.97 and a 200-day moving average of $29.59.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.17. The company had revenue of $609.75 million during the quarter, compared to the consensus estimate of $615.10 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. As a group, equities research analysts expect that G-III Apparel Group will post 3.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantedge Capital Pte Ltd grew its stake in G-III Apparel Group by 63.7% in the fourth quarter. Quantedge Capital Pte Ltd now owns 162,900 shares of the textile maker’s stock valued at $5,535,000 after acquiring an additional 63,400 shares during the period. CastleKnight Management LP bought a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $2,015,000. Walleye Capital LLC bought a new stake in shares of G-III Apparel Group in the third quarter valued at about $2,280,000. LSV Asset Management lifted its holdings in shares of G-III Apparel Group by 0.7% in the fourth quarter. LSV Asset Management now owns 874,483 shares of the textile maker’s stock valued at $29,715,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its holdings in shares of G-III Apparel Group by 57.7% in the fourth quarter. Artemis Investment Management LLP now owns 169,148 shares of the textile maker’s stock valued at $5,748,000 after purchasing an additional 61,915 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

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.