Telsey Advisory Group Trims G-III Apparel Group (GIII) Target Price to $42.00

G-III Apparel Group (NASDAQ:GIII) had its price objective lowered by Telsey Advisory Group from $53.00 to $42.00 in a research note released on Friday morning, MarketBeat.com reports. The firm currently has an outperform rating on the textile maker’s stock.

GIII has been the topic of several other reports. Zacks Investment Research upgraded shares of G-III Apparel Group from a hold rating to a strong-buy rating and set a $40.00 price target on the stock in a research report on Thursday, December 7th. KeyCorp reiterated a buy rating and issued a $45.00 price target on shares of G-III Apparel Group in a research report on Thursday, January 11th. Piper Jaffray set a $33.00 price target on shares of G-III Apparel Group and gave the company a buy rating in a research report on Thursday, November 30th. Cowen set a $32.00 price target on shares of G-III Apparel Group and gave the company a hold rating in a research report on Thursday, November 30th. Finally, BidaskClub lowered shares of G-III Apparel Group from a buy rating to a hold rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. G-III Apparel Group has an average rating of Hold and an average target price of $36.82.

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Shares of G-III Apparel Group (NASDAQ:GIII) opened at $34.84 on Friday. The company has a market cap of $1,709.98, a P/E ratio of 21.77, a PEG ratio of 1.14 and a beta of 0.26. G-III Apparel Group has a 1 year low of $18.00 and a 1 year high of $40.96. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.52 and a quick ratio of 1.91.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, March 22nd. The textile maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.16 by $0.10. The business had revenue of $714.90 million for the quarter, compared to analyst estimates of $707.64 million. G-III Apparel Group had a net margin of 2.21% and a return on equity of 7.57%. The company’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) earnings per share. sell-side analysts predict that G-III Apparel Group will post 2.04 EPS for the current fiscal year.

In related news, Director Bokhorst Willem Van sold 7,518 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $37.51, for a total transaction of $282,000.18. Following the sale, the director now owns 48,667 shares in the company, valued at $1,825,499.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Elkfork Partners LLC acquired a new stake in G-III Apparel Group during the fourth quarter worth approximately $156,000. Envestnet Asset Management Inc. boosted its position in G-III Apparel Group by 16.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 12,599 shares of the textile maker’s stock worth $465,000 after acquiring an additional 1,736 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of G-III Apparel Group in the 4th quarter valued at $776,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of G-III Apparel Group by 67.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 26,010 shares of the textile maker’s stock valued at $959,000 after purchasing an additional 10,440 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of G-III Apparel Group by 41.8% in the 4th quarter. Macquarie Group Ltd. now owns 178,756 shares of the textile maker’s stock valued at $6,594,000 after purchasing an additional 52,694 shares during the last quarter. Hedge funds and other institutional investors own 98.30% of the company’s stock.

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G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

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