Telsey Advisory Group Reaffirms “Market Perform” Rating for G-III Apparel Group (NASDAQ:GIII)

G-III Apparel Group (NASDAQ:GIII)‘s stock had its “market perform” rating reissued by equities research analysts at Telsey Advisory Group in a research note issued on Friday,Benzinga reports. They currently have a $30.00 price target on the textile maker’s stock. Telsey Advisory Group’s price target suggests a potential upside of 17.19% from the stock’s current price.

Several other equities analysts also recently weighed in on GIII. Barclays reduced their target price on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 18th. KeyCorp raised their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. Guggenheim lifted their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, UBS Group dropped their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Stock Up 0.9 %

Shares of NASDAQ:GIII opened at $25.60 on Friday. The company has a market capitalization of $1.12 billion, a P/E ratio of 6.72 and a beta of 2.09. The stock’s fifty day simple moving average is $28.07 and its 200-day simple moving average is $30.25. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. The business had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, equities research analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds have recently modified their holdings of the stock. AlphaQuest LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter valued at approximately $49,000. Smartleaf Asset Management LLC boosted its position in G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after buying an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of G-III Apparel Group during the fourth quarter valued at about $68,000. Quarry LP purchased a new stake in shares of G-III Apparel Group during the third quarter worth about $63,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 1,460 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

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.