G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $30.00 Consensus Target Price from Brokerages

G-III Apparel Group, Ltd. (NASDAQ:GIII) has been given a consensus recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.50.

A number of equities analysts have recently commented on GIII shares. Guggenheim assumed coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 target price on the stock. Barclays raised their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. KeyCorp raised their price target 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, Telsey Advisory Group reiterated a “market perform” rating and set a $32.00 target price on shares of G-III Apparel Group in a report on Wednesday.

G-III Apparel Group Stock Performance

GIII stock opened at $31.42 on Monday. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $35.68. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 7.86 and a beta of 2.14. The business’s fifty day simple moving average is $30.62 and its two-hundred day simple moving average is $28.60. 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 (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. The company had revenue of $644.80 million for 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 firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 EPS. Analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current year.

Insider Activity 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 stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. F M Investments LLC purchased a new position in shares of G-III Apparel Group during the 2nd quarter valued at about $6,796,000. Marshall Wace LLP lifted its holdings in G-III Apparel Group by 142.8% in the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after acquiring an additional 206,993 shares during the period. Barclays PLC boosted its position in G-III Apparel Group by 236.4% in the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after purchasing an additional 198,647 shares in the last quarter. Jane Street Group LLC boosted its position in G-III Apparel Group by 269.9% in the 3rd quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after purchasing an additional 183,246 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of G-III Apparel Group by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after purchasing an additional 155,079 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.