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

G-III Apparel Group (NASDAQ:GIII)‘s stock had its “market perform” rating restated by equities research analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They presently have a $32.00 price target on the textile maker’s stock. Telsey Advisory Group’s target price points to a potential upside of 3.09% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. KeyCorp raised their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Barclays increased their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Guggenheim began 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 price objective for the company. Finally, StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus price target of $30.50.

G-III Apparel Group Trading Down 2.1 %

NASDAQ:GIII opened at $31.04 on Wednesday. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $35.68. The firm has a market cap of $1.36 billion, a PE ratio of 7.76 and a beta of 2.14. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $30.57 and a 200 day moving average price of $28.55.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same quarter last year, the company earned $0.40 EPS. G-III Apparel Group’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.40% of the company’s stock.

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of G-III Apparel Group by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,911 shares of the textile maker’s stock valued at $897,000 after purchasing an additional 1,485 shares during the period. CWM LLC grew its position 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 worth $51,000 after acquiring an additional 1,012 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of G-III Apparel Group by 162.2% in the 2nd quarter. SG Americas Securities LLC now owns 95,308 shares of the textile maker’s stock valued at $2,580,000 after acquiring an additional 58,959 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in G-III Apparel Group in the 2nd quarter valued at $257,000. Finally, SummerHaven Investment Management LLC boosted its stake 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 purchasing an additional 516 shares during the period. 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.