G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives $30.00 Average Price Target from Brokerages

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report) have been given an average rating of "Hold" by the six brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $30.00.

Several equities analysts have weighed in on GIII shares. Guggenheim started coverage on G-III Apparel Group in a report on Wednesday, October 9th. They set a "buy" rating and a $36.00 price target for the company. KeyCorp upped their price target 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 target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an "underweight" rating in a research note on Friday, September 6th. StockNews.com cut shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th.

G-III Apparel Group Stock Up 1.8 %

GIII stock traded up $0.55 during midday trading on Thursday, hitting $31.44. The company's stock had a trading volume of 379,006 shares, compared to its average volume of 575,330. The firm's 50-day moving average is $30.36 and its 200-day moving average is $28.26. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a market cap of $1.38 billion, a PE ratio of 7.72 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. G-III Apparel Group's revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Activity at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now owns 3,923,071 shares of the company's stock, valued at $118,869,051.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in G-III Apparel Group by 54.3% in the third quarter. Empowered Funds LLC now owns 328,123 shares of the textile maker's stock valued at $10,014,000 after buying an additional 115,491 shares during the last quarter. Royce & Associates LP boosted its holdings in G-III Apparel Group by 10.2% in the third quarter. Royce & Associates LP now owns 38,064 shares of the textile maker's stock valued at $1,162,000 after purchasing an additional 3,537 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in G-III Apparel Group by 18.4% in the third quarter. Zions Bancorporation N.A. now owns 47,248 shares of the textile maker's stock valued at $1,442,000 after purchasing an additional 7,345 shares during the last quarter. Victory Capital Management Inc. grew its position in G-III Apparel Group by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker's stock worth $2,812,000 after purchasing an additional 4,294 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of G-III Apparel Group during the 3rd quarter valued at about $3,671,000. 92.13% of the stock is owned by institutional investors and hedge funds.

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.