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

G-III Apparel Group, LTD. (NASDAQ:GIII) has earned an average rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $27.80.

Several equities analysts have issued reports on the stock. KeyCorp decreased their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, June 9th. UBS Group decreased their price objective on shares of G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, June 9th. 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. Barclays decreased their price objective on shares of 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, Telsey Advisory Group decreased their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a research report on Monday, June 9th.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $24.39 on Friday. G-III Apparel Group has a 52-week low of $20.33 and a 52-week high of $36.18. The firm has a 50 day moving average price of $23.48 and a two-hundred day moving average price of $25.96. The stock has a market cap of $1.06 billion, a P/E ratio of 5.65 and a beta of 1.49.

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

Insider Buying and Selling at G-III Apparel Group

In related news, Director Amigo Victor Herrero bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director directly owned 54,746 shares in the company, valued at $1,201,674.70. The trade was a 10.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SummerHaven Investment Management LLC boosted its stake in G-III Apparel Group by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker’s stock worth $816,000 after acquiring an additional 461 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in G-III Apparel Group by 5.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,781 shares of the textile maker’s stock worth $219,000 after acquiring an additional 539 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in G-III Apparel Group by 18.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker’s stock worth $117,000 after acquiring an additional 564 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in G-III Apparel Group by 5.5% during the first quarter. Janney Montgomery Scott LLC now owns 16,600 shares of the textile maker’s stock worth $454,000 after acquiring an additional 861 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in G-III Apparel Group by 1.3% during the fourth quarter. BNP Paribas Financial Markets now owns 79,173 shares of the textile maker’s stock worth $2,583,000 after acquiring an additional 995 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

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.