G-III Apparel Group, Ltd. (NASDAQ:GIII) Receives Average Recommendation of “Reduce” from Brokerages

G-III Apparel Group, Ltd. (NASDAQ:GIII) has received an average recommendation of “Reduce” from the five research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $25.83.

A number of analysts recently weighed in on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a research report on Friday, March 22nd. Wells Fargo & Company cut their price target on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th. UBS Group dropped their target price on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Barclays restated an “underweight” rating and set a $23.00 target price (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th.

G-III Apparel Group Stock Performance

Shares of NASDAQ:GIII opened at $27.64 on Friday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.33 and a beta of 2.41. The firm’s 50 day simple moving average is $29.45 and its 200 day simple moving average is $29.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.36 and a quick ratio of 2.31. G-III Apparel Group has a fifty-two week low of $14.49 and a fifty-two week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $764.80 million for the quarter, compared to the consensus estimate of $816.98 million. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. G-III Apparel Group’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. As a group, sell-side analysts forecast that G-III Apparel Group will post 3.55 earnings per share for the current year.

Institutional Trading of G-III Apparel Group

A number of hedge funds and other institutional investors have recently made changes to their positions in GIII. Pacer Advisors Inc. raised its holdings in shares of G-III Apparel Group by 155.7% in the fourth quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock valued at $123,019,000 after purchasing an additional 2,204,572 shares during the last quarter. Madison Avenue Partners LP acquired a new stake in shares of G-III Apparel Group in the fourth quarter valued at approximately $25,716,000. Wasatch Advisors Inc. acquired a new position in G-III Apparel Group during the first quarter worth $28,890,000. Goldman Sachs Group Inc. increased its holdings in G-III Apparel Group by 632.5% during the second quarter. Goldman Sachs Group Inc. now owns 572,830 shares of the textile maker’s stock worth $11,038,000 after buying an additional 494,623 shares during the last quarter. Finally, Norges Bank acquired a new position in G-III Apparel Group during the fourth quarter worth $6,479,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Company Profile

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.