G-III Apparel Group, LTD. (NASDAQ:GIII) Receives $27.80 Consensus PT from Analysts

Key Points

• G-III Apparel Group (NASDAQ:GIII) has received an average analyst rating of "Hold", with one analyst recommending a sell, two a hold, and two a buy.
• The firm's average twelve-month price objective is set at $27.80, with recent adjustments dropping targets from as high as $40.00 to $18.00 by various analysts.
• G-III Apparel Group reported earnings per share of $0.19 for the last quarter, surpassing expectations, but experienced a 4.3% decline in year-over-year revenue.

G-III Apparel Group, LTD. (NASDAQ:GIII - Get Free Report) has received an average recommendation of "Hold" from the five analysts that are covering the company, Marketbeat reports. One equities research analyst has 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 target price among analysts that have covered the stock in the last year is $27.80.

A number of brokerages recently issued reports on GIII. Wall Street Zen downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, June 14th. UBS Group lowered their price target on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, June 9th. KeyCorp lowered their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Telsey Advisory Group lowered their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a report on Monday, June 9th. Finally, Barclays lowered their price target on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, June 9th.

G-III Apparel Group Trading Up 3.2%

Shares of GIII stock traded up $0.79 during trading hours on Friday, hitting $25.20. The company's stock had a trading volume of 278,301 shares, compared to its average volume of 630,439. The company has a 50 day moving average of $23.39 and a 200 day moving average of $25.83. The stock has a market cap of $1.09 billion, a PE ratio of 5.83 and a beta of 1.49. G-III Apparel Group has a 12-month low of $20.33 and a 12-month high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. The business had revenue of $583.61 million for the quarter, compared to the consensus estimate of $579.48 million. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS. As a group, analysts anticipate that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Insider Transactions at G-III Apparel Group

In related news, Director Amigo Victor Herrero acquired 5,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director directly owned 54,746 shares in the company, valued at approximately $1,201,674.70. This trade represents a 10.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in G-III Apparel Group by 3.0% during the second quarter. American Century Companies Inc. now owns 1,672,776 shares of the textile maker's stock valued at $37,470,000 after purchasing an additional 48,426 shares in the last quarter. Millennium Management LLC raised its position in shares of G-III Apparel Group by 139.3% in the first quarter. Millennium Management LLC now owns 953,185 shares of the textile maker's stock valued at $26,070,000 after buying an additional 554,933 shares during the last quarter. LSV Asset Management raised its position in shares of G-III Apparel Group by 0.3% in the second quarter. LSV Asset Management now owns 849,501 shares of the textile maker's stock valued at $19,029,000 after buying an additional 2,597 shares during the last quarter. Marshall Wace LLP raised its position in shares of G-III Apparel Group by 80.6% in the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after buying an additional 341,870 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of G-III Apparel Group by 25.0% in the first quarter. Victory Capital Management Inc. now owns 706,288 shares of the textile maker's stock valued at $19,317,000 after buying an additional 141,290 shares during the last quarter. 92.13% of the stock is 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.