G-III Apparel Group, LTD. (NASDAQ:GIII) Stock Has Consensus Price Target of $34.75

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.75.

Several equities analysts have weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $40.00 target price on shares of G-III Apparel Group in a report on Wednesday, September 2nd. Wall Street Zen downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. UBS Group reiterated a “neutral” rating and issued a $27.00 target price (up from $26.00) on shares of G-III Apparel Group in a report on Friday, October 2nd. Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Telsey Advisory Group cut their target price on G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, September 3rd.

Insider Buying and Selling at G-III Apparel Group

In other news, CEO Morris Goldfarb acquired 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average price of $27.94 per share, for a total transaction of $1,117,600.00. Following the acquisition, the chief executive officer owned 4,527,675 shares of the company’s stock, valued at $126,503,239.50. This represents a 0.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On G-III Apparel Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of G-III Apparel Group during the second quarter worth $232,832,000. Bank of America Corp DE acquired a new stake in shares of G-III Apparel Group in the second quarter valued at $14,963,000. Empowered Funds LLC boosted its holdings in G-III Apparel Group by 3.8% in the first quarter. Empowered Funds LLC now owns 286,375 shares of the textile maker’s stock valued at $7,933,000 after purchasing an additional 10,411 shares during the period. Bank of New York Mellon Corp purchased a new position in G-III Apparel Group in the second quarter valued at $9,113,000. Finally, Baird Financial Group Inc. grew its stake in G-III Apparel Group by 8.5% during the 2nd quarter. Baird Financial Group Inc. now owns 266,791 shares of the textile maker’s stock worth $8,994,000 after purchasing an additional 20,848 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Up 0.5%

Shares of NASDAQ GIII opened at $27.21 on Thursday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 8.95 and a beta of 1.28. G-III Apparel Group has a 52 week low of $24.61 and a 52 week high of $37.54. The firm has a 50-day simple moving average of $30.23 and a 200-day simple moving average of $31.52.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $554.09 million for the quarter, compared to analyst estimates of $570.37 million. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.53%. The business’s revenue was down 9.7% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. As a group, equities research analysts expect that G-III Apparel Group will post 2.25 EPS for the current year.

G-III Apparel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. G-III Apparel Group’s payout ratio is presently 13.16%.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a New York-based apparel and fashion company that designs, sources and markets clothing, footwear, handbags and other accessories. Its product portfolio spans women’s, men’s and children’s apparel, including sportswear, dresses, outerwear, tailored clothing and performance-oriented products.

The company develops and markets products under a portfolio of owned and licensed brands. Its owned brands include DKNY, Donna Karan and Karl Lagerfeld, while its broader business has also included licensed and private-label products created for retail partners.