G-III Apparel Group (NASDAQ:GIII) Receives Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of G-III Apparel Group (NASDAQ:GIII) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $32.00 price objective on the textile maker’s stock.

Other equities research analysts have also issued reports about the company. Guggenheim started coverage on G-III Apparel Group in a report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target for the company. KeyCorp boosted their target price on shares of 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. Barclays raised their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and a consensus target price of $30.50.

G-III Apparel Group Stock Up 10.4 %

G-III Apparel Group stock opened at $34.87 on Tuesday. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $35.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The firm has a market cap of $1.53 billion, a PE ratio of 8.72 and a beta of 2.14. The firm’s 50 day moving average price is $30.73 and its two-hundred day moving average price is $28.68.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. G-III Apparel Group’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.78 earnings per share. On average, research analysts predict that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Insider Activity

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. This represents a 2.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GIII. Franklin Resources Inc. increased its stake in G-III Apparel Group by 7.4% during the third quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock valued at $1,682,000 after acquiring an additional 3,806 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of G-III Apparel Group by 8.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock worth $439,000 after purchasing an additional 1,126 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of G-III Apparel Group during the 3rd quarter worth approximately $211,000. Geode Capital Management LLC increased its position in shares of G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after purchasing an additional 11,196 shares during the period. Finally, Vestcor Inc raised its stake in shares of G-III Apparel Group by 197.7% in the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after purchasing an additional 20,800 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.