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

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have earned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.00.

Several analysts recently issued reports on GIII shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Guggenheim assumed coverage on G-III Apparel Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective on the stock. KeyCorp increased 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 lifted their price target on 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.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. This represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.40% of the stock is owned by insiders.

Institutional Trading of G-III Apparel Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in G-III Apparel Group during the second quarter valued at approximately $42,000. CWM LLC boosted its stake in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after buying an additional 1,012 shares in the last quarter. Quarry LP bought a new stake in G-III Apparel Group in the third quarter valued at $63,000. Point72 DIFC Ltd acquired a new position in G-III Apparel Group during the second quarter worth $78,000. Finally, Innealta Capital LLC bought a new position in shares of G-III Apparel Group during the second quarter valued at $124,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of GIII opened at $29.63 on Monday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 7.41 and a beta of 2.19. The company’s fifty day moving average is $30.54 and its 200-day moving average is $28.48. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results 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 company had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Equities analysts expect that G-III Apparel Group will post 4.01 EPS 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.