Brokerages Set G-III Apparel Group, Ltd. (NASDAQ:GIII) Price Target at $25.83

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have been assigned a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $25.83.

GIII has been the topic of several research reports. 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 Friday, March 22nd. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. UBS Group decreased their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Barclays reaffirmed an “underweight” rating and issued a $23.00 target price (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Finally, Wells Fargo & Company reduced their price target on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 15th.

G-III Apparel Group Stock Performance

Shares of GIII opened at $28.42 on Friday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 7.54 and a beta of 2.41. G-III Apparel Group has a 52-week low of $14.49 and a 52-week high of $35.68. The company has a quick ratio of 2.31, a current ratio of 3.36 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average price of $29.14 and a 200 day moving average price of $29.48.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. The business had revenue of $764.80 million during the quarter, compared to analysts’ expectations of $816.98 million. During the same quarter in the prior year, the business posted $0.41 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Research analysts predict that G-III Apparel Group will post 3.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of G-III Apparel Group during the first quarter worth $35,000. Strs Ohio acquired a new stake in shares of G-III Apparel Group in the 3rd quarter worth $34,000. Quest Partners LLC purchased a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $56,000. Castleview Partners LLC acquired a new position in shares of G-III Apparel Group during the third quarter worth about $41,000. Finally, National Bank of Canada FI purchased a new position in G-III Apparel Group during the third quarter worth about $62,000. 92.13% of the stock is currently owned by hedge funds and other 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.