G-III Apparel Group’s (GIII) Market Perform Rating Reiterated 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. Telsey Advisory Group currently has a $34.00 price objective on the textile maker’s stock.

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

G-III Apparel Group Trading Down 0.2%

Shares of GIII stock opened at $29.57 on Monday. The company’s fifty day moving average price is $30.00 and its 200-day moving average price is $28.77. The stock has a market cap of $1.25 billion, a PE ratio of 8.88 and a beta of 1.29. G-III Apparel Group has a 12 month low of $20.33 and a 12 month high of $34.83.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Tuesday, December 9th. The textile maker reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.29. G-III Apparel Group had a net margin of 4.89% and a return on equity of 9.37%. The company had revenue of $988.65 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $2.59 EPS. G-III Apparel Group’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GIII. GAMMA Investing LLC grew its holdings in shares of G-III Apparel Group by 107.7% during the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock valued at $27,000 after buying an additional 488 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in G-III Apparel Group by 105.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after acquiring an additional 591 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in G-III Apparel Group in the 4th quarter valued at approximately $34,000. Federated Hermes Inc. bought a new position in G-III Apparel Group in the 3rd quarter valued at approximately $40,000. Finally, Parallel Advisors LLC boosted its stake in G-III Apparel Group by 231.9% during the 4th quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock valued at $52,000 after purchasing an additional 1,243 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

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.