G-III Apparel Group’s (GIII) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of G-III Apparel Group (NASDAQ:GIII) in a research note published on Monday morning,Benzinga reports. They currently have a $34.00 price objective on the textile maker’s stock.

Several other equities research analysts have also recently issued reports on GIII. Weiss Ratings restated a “hold (c+)” rating on shares of G-III Apparel Group in a report on Friday, January 9th. UBS Group dropped their target price on G-III Apparel Group from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. KeyCorp reiterated an “overweight” rating and set a $35.00 target price (up from $33.00) on shares of G-III Apparel Group in a research report on Wednesday, December 10th. Finally, BTIG Research raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.80.

G-III Apparel Group Stock Performance

Shares of GIII opened at $29.26 on Monday. G-III Apparel Group has a 1 year low of $20.33 and a 1 year high of $34.83. The company’s 50 day simple moving average is $29.99 and its 200 day simple moving average is $28.75. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 8.79 and a beta of 1.29.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, December 9th. The textile maker reported $1.90 EPS for the quarter, topping the consensus estimate of $1.61 by $0.29. The firm had revenue of $988.65 million during the quarter, compared to analysts’ expectations of $1.01 billion. G-III Apparel Group had a net margin of 4.89% and a return on equity of 9.37%. G-III Apparel Group’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.59 EPS. Equities analysts expect that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in G-III Apparel Group by 107.7% during the 4th quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 488 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in G-III Apparel Group by 105.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after buying an additional 591 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in G-III Apparel Group in the 4th quarter worth $34,000. Federated Hermes Inc. acquired a new position in G-III Apparel Group in the 3rd quarter worth $40,000. Finally, Raymond James Financial Inc. purchased a new position in G-III Apparel Group in the 2nd quarter valued at about $41,000. 92.13% of the stock is owned by institutional investors and hedge funds.

About G-III Apparel Group

G-III Apparel Group, Ltd. is a global fashion company engaged in the design, sourcing, marketing and distribution of women’s and men’s apparel, outerwear, footwear, handbags and fashion accessories. Founded in 1956 and headquartered in New York City, the company has grown from an importer of ladies’ apparel into a diversified apparel business with a portfolio of owned and licensed brands.

The company’s product offerings span a broad spectrum of price points and styles, including formal and casual outerwear, sportswear, performance wear and contemporary fashion.