Brokerages Set G-III Apparel Group, LTD. (NASDAQ:GIII) Price Target at $33.00

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $33.00.

A number of analysts have issued reports on GIII shares. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. KeyCorp reaffirmed an “overweight” rating and set a $40.00 price target (up from $35.00) on shares of G-III Apparel Group in a research report on Monday, June 8th. BTIG Research increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Wall Street Zen raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Zacks Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th.

Institutional Trading of G-III Apparel Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in G-III Apparel Group in the 4th quarter worth approximately $36,200,000. Balyasny Asset Management L.P. purchased a new position in G-III Apparel Group in the 2nd quarter valued at approximately $7,546,000. Barclays PLC raised its holdings in G-III Apparel Group by 54.0% during the 4th quarter. Barclays PLC now owns 717,607 shares of the textile maker’s stock valued at $20,782,000 after acquiring an additional 251,502 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in G-III Apparel Group by 30.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,054,266 shares of the textile maker’s stock valued at $28,054,000 after acquiring an additional 247,245 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of G-III Apparel Group during the first quarter worth $5,756,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Down 0.8%

G-III Apparel Group stock opened at $36.41 on Friday. The firm has a 50 day moving average price of $34.22 and a 200-day moving average price of $31.18. G-III Apparel Group has a twelve month low of $23.01 and a twelve month high of $37.00. The company has a market capitalization of $1.54 billion, a P/E ratio of 12.87 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.59%. The company had revenue of $535.96 million for the quarter, compared to analysts’ expectations of $529.07 million. During the same quarter in the previous year, the firm posted $0.19 EPS. G-III Apparel Group’s revenue was down 8.2% on a year-over-year basis. G-III Apparel Group has set its FY 2027 guidance at 2.150-2.250 EPS and its Q2 2027 guidance at 0.150-0.250 EPS. Equities analysts expect that G-III Apparel Group will post 2.24 EPS for the current fiscal year.

G-III Apparel Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 22nd were paid a $0.10 dividend. The ex-dividend date was Monday, June 22nd. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. G-III Apparel Group’s dividend payout ratio (DPR) is presently 14.13%.

G-III Apparel Group Company Profile

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.