G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $25.83 Average PT from Analysts

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been assigned a consensus recommendation of “Reduce” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $25.83.

GIII has been the topic of a number of research reports. Barclays restated an “underweight” rating and issued a $23.00 price objective (down from $30.00) on shares of G-III Apparel Group in a research note on Monday, March 4th. UBS Group lowered their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research note on Friday, March 22nd. Wells Fargo & Company decreased their price target on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th. Finally, TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in shares of G-III Apparel Group by 155.7% during the fourth quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock worth $123,019,000 after purchasing an additional 2,204,572 shares in the last quarter. Norges Bank purchased a new position in shares of G-III Apparel Group during the fourth quarter worth about $9,440,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of G-III Apparel Group by 39.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker’s stock worth $16,585,000 after purchasing an additional 189,239 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of G-III Apparel Group by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,777,980 shares of the textile maker’s stock worth $94,396,000 after purchasing an additional 145,232 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of G-III Apparel Group by 23.5% during the third quarter. Invesco Ltd. now owns 643,282 shares of the textile maker’s stock worth $16,031,000 after purchasing an additional 122,484 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII opened at $28.95 on Friday. The company’s 50-day moving average is $29.33 and its 200 day moving average is $29.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.31 and a current ratio of 3.36. The company has a market capitalization of $1.31 billion, a P/E ratio of 7.68 and a beta of 2.41. G-III Apparel Group has a fifty-two week low of $14.49 and a fifty-two week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $764.80 million for the quarter, compared to the consensus estimate of $816.98 million. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. On average, equities research analysts forecast that G-III Apparel Group will post 3.55 earnings per share for the current year.

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.