G-III Apparel Group, Ltd. (NASDAQ:GIII) received a “Hold” consensus rating from analysts

G-III Apparel Group, Ltd. (NASDAQ:GIII – get rating) has received an average “Hold” rating from the ten brokerages that cover the company, reports MarketBeat.com. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers who have hedged the stock in the past year is $25.00.

GIII has been the subject of several research analyst reports. Barclays cut its price target on G-III Apparel Group from $22.00 to $18.00 and set an “equal weight” rating on the company in a research report on Friday, September 9. Wells Fargo & Company assumed coverage of G-III Apparel Group in a report on Monday, July 11. They set an “equal weight” rating and a $20.00 price target for the company. B. Riley lowered his price target on G-III Apparel Group from $41.00 to $37.00 and set a “buy” rating on the company in a report on Wednesday, June 8. UBS Group lowered its price target on G-III Apparel Group from $31.00 to $22.00 and placed a “neutral” rating on the company in a report on Friday, July 15. Finally, StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 8.

Hedge funds weigh on G-III Apparel Group

Several institutional investors and hedge funds have recently modified their GIII holdings. Teacher Retirement System of Texas purchased a new position in G-III Apparel Group stock in the fourth quarter worth approximately $234,000. Citigroup Inc. increased its stake in G-III Apparel Group stock by 26.9% in the fourth quarter. Citigroup Inc. now owns 41,619 shares of the textile maker worth $1,150,000 after buying an additional 8,815 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of G-III Apparel Group in the fourth quarter worth approximately $878,000. Bank of Montreal Can increased its holdings in shares of G-III Apparel Group by 1,103.6% in the fourth quarter. Bank of Montreal Can now owns 311,971 shares of the textile manufacturer worth $8,654,000 after buying an additional 286,051 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of G-III Apparel Group by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 665,977 shares of the textile manufacturer worth $18,408,000 after purchasing an additional 6,040 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s shares.

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G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $15.68 on Friday. The company has a current ratio of 2.29, a quick ratio of 0.94, and a debt-to-equity ratio of 0.31. G-III Apparel Group has a 12-month minimum of $15.23 and a 12-month maximum of $33.40. The stock has a 50-day moving average price of $20.99 and a 200-day moving average price of $23.68. The stock has a market capitalization of $744.60 million, a P/E ratio of 3.48, and a beta of 2.42.

Clothing Group G-III (NASDAQ:GIII – get rating) last published its earnings results on Wednesday, September 7. The textile manufacturer reported earnings per share (EPS) of $0.39 for the quarter, missing the consensus estimate of $0.47 per ($0.08). G-III Apparel Group had a return on equity of 13.61% and a net margin of 7.26%. The business had revenue of $605.20 million in the quarter, compared to analyst expectations of $592.53 million. During the same quarter of the previous year, the company recorded $0.39 EPS. Business revenue for the quarter increased 25.3% compared to the same quarter last year. Equity Research Analysts forecast that G-III Apparel Group will post 3.65 EPS for the current fiscal year.

Company Profile G-III Apparel Group

(get rating)

G-III Apparel Group, Ltd. designs, sources and markets apparel for men and women 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 bags, footwear, small leather goods, cold-weather accessories, and luggage.

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Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

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