G-III Apparel Group’s (GIII) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of G-III Apparel Group (NASDAQ:GIII) in a report released on Thursday, MarketBeat.com reports. The firm currently has a $29.00 price target on the textile maker’s stock.

Separately, StockNews.com lowered G-III Apparel Group from a buy rating to a hold rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $28.80.

G-III Apparel Group Stock Up 5.3 %

GIII stock opened at $32.18 on Thursday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 8.42 and a beta of 2.19. The company’s 50 day moving average is $26.18 and its 200 day moving average is $27.70. The company has a current ratio of 3.79, a quick ratio of 2.62 and a debt-to-equity ratio of 0.26. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.25. The business had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. G-III Apparel Group’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Sell-side analysts predict that G-III Apparel Group will post 3.63 EPS for the current fiscal year.

Institutional Trading of G-III Apparel Group

A number of institutional investors have recently made changes to their positions in GIII. Newbridge Financial Services Group Inc. purchased a new stake in shares of G-III Apparel Group during the first quarter valued at approximately $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of G-III Apparel Group during the second quarter valued at approximately $42,000. CWM LLC raised its holdings in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares in the last quarter. Quest Partners LLC bought a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $56,000. Finally, Point72 DIFC Ltd bought a new position in shares of G-III Apparel Group during the second quarter valued at approximately $78,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.