G-III Apparel Group, LTD. (NASDAQ:GIII) Stock Has Consensus Target Price of $34.75

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have earned an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $34.75.

GIII has been the subject of several recent research reports. BTIG Research reissued a “buy” rating and issued a $40.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, September 2nd. Telsey Advisory Group cut their target price on shares of G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, September 3rd. UBS Group restated a “neutral” rating and set a $27.00 target price (up from $26.00) on shares of G-III Apparel Group in a report on Friday, October 2nd. Wall Street Zen cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. Finally, Weiss Ratings downgraded G-III Apparel Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 26th.

G-III Apparel Group Stock Up 5.7%

GIII stock opened at $33.14 on Monday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 10.90 and a beta of 1.29. The business has a fifty day simple moving average of $28.71 and a 200-day simple moving average of $30.87. G-III Apparel Group has a 52 week low of $24.61 and a 52 week high of $37.54.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. G-III Apparel Group had a return on equity of 5.53% and a net margin of 4.75%. The firm had revenue of $554.09 million for the quarter, compared to analysts’ expectations of $570.37 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. As a group, analysts expect that G-III Apparel Group will post 2.25 earnings per share for the current fiscal year.

G-III Apparel Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 15th. G-III Apparel Group’s payout ratio is currently 13.16%.

Insider Buying and Selling at G-III Apparel Group

In related news, CEO Morris Goldfarb bought 40,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $27.94 per share, with a total value of $1,117,600.00. Following the completion of the transaction, the chief executive officer directly owned 4,527,675 shares of the company’s stock, valued at approximately $126,503,239.50. This represents a 0.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.00% of the stock is owned by insiders.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in G-III Apparel Group during the 2nd quarter worth $232,832,000. Bank of America Corp DE acquired a new position in G-III Apparel Group in the 2nd quarter worth $14,963,000. Bank of New York Mellon Corp purchased a new position in G-III Apparel Group in the 2nd quarter valued at about $9,113,000. Empowered Funds LLC purchased a new position in G-III Apparel Group in the 2nd quarter valued at about $7,094,000. Finally, Edgestream Partners L.P. purchased a new position in G-III Apparel Group in the 1st quarter valued at about $5,756,000. 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. is a global fashion company that designs, sources, and markets apparel, accessories, footwear, handbags, and related products for women, men, and children. Its portfolio includes owned brands such as DKNY, Donna Karan, and Karl Lagerfeld, along with products developed under licensing and strategic brand relationships.

The company distributes its products through department stores, specialty retailers, mass-market retailers, company-operated stores, and e-commerce channels.