G-III Apparel Group, LTD. (NASDAQ:GIII) Given Consensus Recommendation of “Hold” by Brokerages

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have been assigned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $27.80.

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, June 14th. Telsey Advisory Group lowered their price target on G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Monday, June 9th. UBS Group reduced their price objective on G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, June 9th. Barclays decreased their target price on G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, June 9th. Finally, KeyCorp dropped their price target on G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, June 9th.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors have recently bought and sold shares of GIII. SummerHaven Investment Management LLC boosted its position in G-III Apparel Group by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker’s stock valued at $816,000 after acquiring an additional 461 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in G-III Apparel Group by 18.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker’s stock valued at $117,000 after purchasing an additional 564 shares during the last quarter. Sanctuary Advisors LLC grew its stake in G-III Apparel Group by 4.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock valued at $500,000 after purchasing an additional 631 shares during the last quarter. Vestcor Inc raised its holdings in G-III Apparel Group by 2.1% in the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock worth $1,043,000 after purchasing an additional 665 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of G-III Apparel Group by 9.1% during the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock valued at $264,000 after buying an additional 673 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Down 0.6%

GIII opened at $21.45 on Friday. The business has a fifty day moving average of $25.55 and a 200 day moving average of $28.24. The stock has a market cap of $929.00 million, a P/E ratio of 4.97 and a beta of 1.48. G-III Apparel Group has a 52-week low of $20.33 and a 52-week high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $583.61 million during the quarter, compared to the consensus estimate of $579.48 million. G-III Apparel Group had a return on equity of 12.65% and a net margin of 6.20%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. Equities analysts anticipate that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

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.