G-III Apparel Group (NASDAQ:GIII) Stock Rating Reaffirmed by Telsey Advisory Group

G-III Apparel Group (NASDAQ:GIII)‘s stock had its “market perform” rating reaffirmed by research analysts at Telsey Advisory Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $22.00 price target on the textile maker’s stock. Telsey Advisory Group’s price target indicates a potential downside of 6.98% from the stock’s current price.

A number of other research analysts have also recently issued reports on GIII. KeyCorp boosted their target price on G-III Apparel Group from $18.00 to $23.00 in a research note on Wednesday, June 7th. StockNews.com started coverage on G-III Apparel Group in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. UBS Group upped their target price on G-III Apparel Group from $16.00 to $21.00 in a research report on Wednesday, June 7th. Barclays upped their target price on G-III Apparel Group from $15.00 to $20.00 in a research report on Wednesday, June 7th. Finally, Piper Sandler upped their target price on G-III Apparel Group from $16.00 to $17.00 in a research report on Wednesday, June 7th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.14.

G-III Apparel Group Price Performance

G-III Apparel Group stock opened at $23.65 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.94 and a quick ratio of 1.70. The company has a market capitalization of $1.08 billion, a PE ratio of -6.82 and a beta of 2.67. G-III Apparel Group has a one year low of $11.60 and a one year high of $24.47. The business has a 50 day simple moving average of $20.34 and a 200 day simple moving average of $17.97.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 7th. The textile maker reported $0.40 EPS for the quarter, topping the consensus estimate of $0.01 by $0.39. G-III Apparel Group had a positive return on equity of 7.40% and a negative net margin of 5.10%. The business had revenue of $659.80 million during the quarter, compared to the consensus estimate of $591.39 million. During the same quarter last year, the company earned $0.39 EPS. G-III Apparel Group’s revenue was up 9.0% on a year-over-year basis. On average, sell-side analysts forecast that G-III Apparel Group will post 2.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Laura H. Pomerantz sold 10,904 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $20.42, for a total value of $222,659.68. Following the completion of the transaction, the director now directly owns 31,070 shares of the company’s stock, valued at $634,449.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Laura H. Pomerantz sold 10,904 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $20.42, for a total value of $222,659.68. Following the transaction, the director now owns 31,070 shares in the company, valued at $634,449.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laura H. Pomerantz sold 9,304 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $19.40, for a total value of $180,497.60. Following the completion of the transaction, the director now owns 41,974 shares in the company, valued at approximately $814,295.60. The disclosure for this sale can be found here. Insiders sold a total of 229,151 shares of company stock valued at $4,529,782 over the last three months. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky lifted its stake in G-III Apparel Group by 5.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 15,340 shares of the textile maker’s stock valued at $296,000 after purchasing an additional 762 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of G-III Apparel Group by 9.8% during the second quarter. Alliancebernstein L.P. now owns 47,921 shares of the textile maker’s stock worth $923,000 after acquiring an additional 4,270 shares in the last quarter. Bragg Financial Advisors Inc lifted its position in shares of G-III Apparel Group by 1.0% during the second quarter. Bragg Financial Advisors Inc now owns 378,131 shares of the textile maker’s stock worth $7,287,000 after acquiring an additional 3,726 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of G-III Apparel Group by 1,669.0% during the second quarter. Public Employees Retirement System of Ohio now owns 52,255 shares of the textile maker’s stock worth $1,007,000 after acquiring an additional 49,301 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of G-III Apparel Group during the second quarter worth $694,000. Hedge funds and other 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.