Analysts Set G-III Apparel Group, Ltd. (NASDAQ:GIII) Price Target at $28.80

G-III Apparel Group, Ltd. (NASDAQ:GIII) has received an average rating of “Reduce” from the five ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $28.80.

Several equities research analysts have issued reports on GIII shares. Telsey Advisory Group restated a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. Barclays lifted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Sunday. Finally, KeyCorp boosted their price objective on shares of 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.

Institutional Investors Weigh In On G-III Apparel Group

Large investors have recently added to or reduced their stakes in the company. Quantedge Capital Pte Ltd boosted its holdings in shares of G-III Apparel Group by 63.7% in the 4th quarter. Quantedge Capital Pte Ltd now owns 162,900 shares of the textile maker’s stock worth $5,535,000 after purchasing an additional 63,400 shares in the last quarter. CastleKnight Management LP bought a new position in G-III Apparel Group during the fourth quarter valued at approximately $2,015,000. Foundry Partners LLC purchased a new position in shares of G-III Apparel Group during the second quarter worth approximately $518,000. SG Americas Securities LLC lifted its holdings in shares of G-III Apparel Group by 114.0% in the 1st quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock worth $1,054,000 after acquiring an additional 19,362 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of G-III Apparel Group in the 1st quarter valued at $913,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Down 0.8 %

GIII stock opened at $31.57 on Wednesday. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The stock has a fifty day moving average of $27.35 and a 200-day moving average of $27.68. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 8.26 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 2.92.

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, topping the consensus estimate of $0.27 by $0.25. The firm had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities research analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current 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.