G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $27.60 Average PT from Brokerages

G-III Apparel Group, Ltd. (NASDAQ:GIII) has been assigned an average recommendation of “Reduce” from the five research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $27.60.

A number of equities research analysts have commented on the stock. UBS Group cut their target price on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. Wells Fargo & Company lowered their price objective 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. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research report on Monday, June 3rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of G-III Apparel Group by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after purchasing an additional 292,668 shares during the last quarter. Pacer Advisors Inc. boosted its stake in 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 buying an additional 2,204,572 shares during the period. Dimensional Fund Advisors LP increased its position in 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 valued at $94,396,000 after acquiring an additional 145,232 shares during the last quarter. LSV Asset Management raised its stake in shares of G-III Apparel Group by 0.7% in the fourth quarter. LSV Asset Management now owns 874,483 shares of the textile maker’s stock valued at $29,715,000 after acquiring an additional 5,700 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of G-III Apparel Group by 39.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker’s stock worth $16,585,000 after acquiring an additional 189,239 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

GIII stock opened at $26.83 on Friday. The stock has a market capitalization of $1.21 billion, a PE ratio of 7.02 and a beta of 2.24. The stock’s 50 day simple moving average is $27.77 and its 200 day simple moving average is $29.32. G-III Apparel Group has a 12-month low of $18.47 and a 12-month high of $35.68. 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 (NASDAQ:GIII) last released its quarterly earnings data on Thursday, June 6th. The textile maker reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.17. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. The company had revenue of $609.75 million for the quarter, compared to analysts’ expectations of $615.10 million. As a group, research analysts forecast that G-III Apparel Group will post 3.63 earnings per share for the current fiscal 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.