G-III Apparel Group, Ltd. (NASDAQ: GIII) receives a medium “Hold” recommendation from analysts
G-III Apparel Group, Ltd. (NASDAQ: GIII – Get a rating) received an average recommendation of “Hold” by the ten brokerages that currently cover the stock, Marketbeat reports. Five analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among analysts who have rated the stock over the past year is $25.00.
GIII has been the subject of a number of recent analyst reports. Barclays cut its price target on G-III Apparel Group shares from $22.00 to $18.00 and set an “equal weight” rating for the company in a Friday, September 9 report. Piper Sandler restated an “overweight” rating and set a price target of $28.00 on shares of G-III Apparel Group in a Friday, July 22 report. Telsey Advisory Group lowered its price target on G-III Apparel Group shares from $25.00 to $22.00 and set a “market performance” rating for the company in a Thursday 8 research report. september. Wells Fargo & Company began covering G-III Apparel Group shares in a research report on Monday, July 11. They set an “equal weight” rating and a price target of $20.00 for the company. Finally, KeyCorp began covering G-III Apparel Group shares in a research report on Wednesday, July 20. They set an “overweight” rating and a price target of $27.00 for the company.
Clothing group G-III grows by 2.7%
Shares of G-III Apparel Group opened at $17.23 on Wednesday. The company has a market capitalization of $818.20 million, a PE ratio of 3.83, a P/E/G ratio of 0.29 and a beta of 2.45. The company has a current ratio of 2.29, a quick ratio of 0.94 and a debt ratio of 0.31. G-III Apparel Group has a 12-month low of $14.37 and a 12-month high of $33.40. The company’s 50-day moving average price is $18.85 and its 200-day moving average price is $22.21.
Clothing Group G-III (NASDAQ: GIII – Get a rating) last announced its quarterly results on Wednesday, September 7. The textile maker reported earnings per share (EPS) of $0.39 for the quarter, missing analyst consensus estimates of $0.47 per ($0.08). The company posted revenue of $605.20 million for the quarter, versus analyst estimates of $592.53 million. G-III Apparel Group achieved a return on equity of 13.61% and a net margin of 7.26%. The company’s quarterly revenue increased 25.3% year over year. In the same quarter of the previous year, the company had achieved EPS of $0.39. On average, sell-side analysts expect G-III Apparel Group to post EPS of 3.65 for the current fiscal year.
Institutional investors weigh in on G-III Apparel Group
Several hedge funds and other institutional investors have been buying and selling stocks recently. Pacer Advisors Inc. increased its stake in G-III Apparel Group by 61.6% during Q3. Pacer Advisors Inc. now owns 500,672 shares of the textile maker worth $7,485,000 after acquiring an additional 190,852 shares last quarter. Phocas Financial Corp. increased its stake in G-III Apparel Group by 3.0% in the third quarter. Phocas Financial Corp. now owns 138,121 shares of the textile maker valued at $2,065,000 after purchasing an additional 3,986 shares during the period. Unison Advisors LLC increased its stake in G-III Apparel Group by 34.5% in the third quarter. Unison Advisors LLC now owns 23,501 shares of the textile maker valued at $351,000 after buying an additional 6,030 shares during the period. Exchange Traded Concepts LLC increased its stake in G-III Apparel Group by 16.0% in the third quarter. Exchange Traded Concepts LLC now owns 56,490 shares of the textile maker valued at $845,000 after purchasing an additional 7,799 shares during the period. Finally, Brown Advisory Inc. increased its stake in G-III Apparel Group by 22.2% in the second quarter. Brown Advisory Inc. now owns 14,243 shares of the textile maker valued at $394,000 after purchasing an additional 2,583 shares during the period. 88.68% of the shares are currently held by institutional investors and hedge funds.
About Clothing Group G-III
G-III Apparel Group, Ltd. designs, sources and markets women’s and men’s clothing in the United States and around the world. 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 apparel; and women’s handbags, shoes, small leather goods, cold weather accessories and luggage.
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