G-III Apparel Group (NASDAQ:GIII) Earns “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of G-III Apparel Group (NASDAQ:GIII) in a research note published on Thursday, MarketBeat reports. Telsey Advisory Group currently has a $29.00 price target on the textile maker’s stock.

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

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $32.18 on Thursday. The stock has a market capitalization of $1.45 billion, a PE ratio of 8.42 and a beta of 2.19. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $35.68. The stock has a 50 day moving average price of $26.18 and a 200 day moving average price of $27.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.62 and a current ratio of 3.79.

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

Institutional Investors Weigh In On G-III Apparel Group

A number of institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its stake in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after purchasing an additional 482 shares during the period. Mutual Advisors LLC increased its position in G-III Apparel Group by 1.0% during the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock worth $1,431,000 after buying an additional 498 shares during the period. SummerHaven Investment Management LLC increased its position in G-III Apparel Group by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock worth $1,023,000 after buying an additional 516 shares during the period. Hsbc Holdings PLC increased its position in G-III Apparel Group by 1.1% during the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after buying an additional 532 shares during the period. Finally, ProShare Advisors LLC increased its position in G-III Apparel Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after buying an additional 572 shares during the period. 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.