Analysts Set G-III Apparel Group, Ltd. (NASDAQ:GIII) Target Price at $30.00

G-III Apparel Group, Ltd. (NASDAQ:GIII) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $30.00.

GIII has been the subject of several analyst reports. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Guggenheim assumed coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective on the stock. KeyCorp lifted their target price on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a report on Thursday, September 5th.

G-III Apparel Group Trading Up 1.6 %

Shares of GIII stock opened at $32.76 on Friday. The company has a market cap of $1.47 billion, a PE ratio of 8.58 and a beta of 2.19. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $35.68. The stock’s 50 day simple moving average is $28.86 and its two-hundred day simple moving average is $27.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same period last year, the company earned $0.40 earnings per share. G-III Apparel Group’s revenue was down 2.3% on a year-over-year basis. Research analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current year.

Insider Buying and Selling

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the transaction, the chief executive officer now owns 3,990,085 shares of the company’s stock, valued at approximately $126,046,785.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.40% of the stock is owned by insiders.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in G-III Apparel Group by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after acquiring an additional 292,668 shares in the last quarter. F M Investments LLC bought a new stake in G-III Apparel Group during the second quarter valued at about $6,796,000. Marshall Wace LLP boosted its position in G-III Apparel Group by 142.8% during the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after purchasing an additional 206,993 shares in the last quarter. American Century Companies Inc. grew its stake in G-III Apparel Group by 15.6% in the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after purchasing an additional 155,079 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in G-III Apparel Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after purchasing an additional 151,425 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other 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.