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

G-III Apparel Group (NASDAQ:GIII - Get Free Report)'s stock had its "market perform" rating reaffirmed by analysts at Telsey Advisory Group in a research note issued on Tuesday,Benzinga reports. They presently have a $32.00 target price on the textile maker's stock. Telsey Advisory Group's price objective would indicate a potential downside of 8.23% from the stock's previous close.

A number of other research firms also recently commented on GIII. Guggenheim began coverage on G-III Apparel Group in a report on Wednesday, October 9th. They set a "buy" rating and a $36.00 price objective for the company. KeyCorp increased their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an "overweight" rating in a research note on Friday, September 6th. Barclays raised their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an "underweight" rating in a report on Friday, September 6th. Finally, StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.50.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII traded up $3.29 during midday trading on Tuesday, reaching $34.87. 1,026,853 shares of the company were exchanged, compared to its average volume of 560,893. The stock has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $28.64. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $35.68. The stock has a market cap of $1.53 billion, a P/E ratio of 8.60 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.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.33. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business's revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.78 EPS. On average, research analysts forecast that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 100,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,990,085 shares of the company's stock, valued at approximately $126,046,785.15. This represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.40% of the stock is owned by insiders.

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in G-III Apparel Group by 7.4% during the third quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker's stock worth $1,682,000 after purchasing an additional 3,806 shares during the period. Sanctuary Advisors LLC increased its position in G-III Apparel Group by 8.4% during the third quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker's stock worth $439,000 after acquiring an additional 1,126 shares during the period. Virtu Financial LLC bought a new position in shares of G-III Apparel Group during the 3rd quarter worth about $211,000. Geode Capital Management LLC raised its holdings in G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker's stock valued at $29,833,000 after acquiring an additional 11,196 shares in the last quarter. Finally, Vestcor Inc raised its stake in shares of G-III Apparel Group by 197.7% in the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker's stock valued at $956,000 after purchasing an additional 20,800 shares in the last quarter. Institutional investors and hedge funds 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.