G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives Consensus Recommendation of “Hold” from Analysts

G-III Apparel Group, Ltd. (NASDAQ:GIII) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $33.80.

Several research analysts have recently weighed in on the company. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Telsey Advisory Group decreased their target price on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday. Barclays boosted their target price on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Guggenheim boosted their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, UBS Group cut their price target on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds have recently added to or reduced their stakes in GIII. AlphaQuest LLC purchased a new position in shares of G-III Apparel Group in the 4th quarter worth approximately $49,000. Smartleaf Asset Management LLC lifted its stake in G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in G-III Apparel Group in the fourth quarter valued at approximately $68,000. Quarry LP purchased a new position in G-III Apparel Group in the third quarter valued at approximately $63,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in G-III Apparel Group by 93.2% in the third 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 last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

G-III Apparel Group Stock Up 2.2 %

Shares of NASDAQ:GIII opened at $26.67 on Wednesday. The firm has a market cap of $1.17 billion, a P/E ratio of 7.00 and a beta of 2.09. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $36.18. The business has a fifty day simple moving average of $29.46 and a 200 day simple moving average of $30.51.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. G-III Apparel Group’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. Analysts predict that G-III Apparel Group will post 4.16 earnings per share for the current year.

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.