G-III Apparel Group, Ltd. (NASDAQ:GIII) Given Average Recommendation of “Reduce” by Brokerages

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have earned an average recommendation of “Reduce” from the five analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $28.80.

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. KeyCorp upped their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th.

G-III Apparel Group Stock Performance

GIII stock opened at $31.71 on Wednesday. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.30 and a beta of 2.19. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The firm has a 50 day moving average of $27.14 and a two-hundred day moving average of $27.65.

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

Institutional Trading of G-III Apparel Group

A number of hedge funds have recently bought and sold shares of GIII. Vanguard Group Inc. raised 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 buying an additional 292,668 shares in the last quarter. Norges Bank acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth about $9,440,000. F M Investments LLC bought a new stake in G-III Apparel Group in the second quarter valued at about $6,796,000. Marshall Wace LLP increased its holdings in G-III Apparel Group by 142.8% in the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after purchasing an additional 206,993 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in G-III Apparel Group by 15.6% in the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after purchasing an additional 155,079 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

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.