G-III Apparel Group (NASDAQ:GIII) Earns “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of G-III Apparel Group (NASDAQ:GIII) in a report published on Friday,Benzinga reports. They currently have a $30.00 target price on the textile maker’s stock.

Several other analysts have also recently issued reports on GIII. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Guggenheim boosted their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Barclays cut their price objective on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 18th. KeyCorp lifted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, UBS Group reduced their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $25.60 on Friday. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The stock has a market cap of $1.12 billion, a P/E ratio of 6.72 and a beta of 2.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The firm has a 50-day moving average of $28.07 and a two-hundred day moving average of $30.27.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. G-III Apparel Group’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts expect that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of G-III Apparel Group

Several hedge funds have recently made changes to their positions in GIII. AlphaQuest LLC bought a new position in G-III Apparel Group during the 4th quarter worth $49,000. Smartleaf Asset Management LLC boosted its holdings in shares of G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of G-III Apparel Group during the fourth quarter worth about $68,000. Quarry LP bought a new stake in G-III Apparel Group in the 3rd quarter valued at about $63,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 1,460 shares during the period. Institutional investors 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.