Telsey Advisory Group Reaffirms “Market Perform” Rating for G-III Apparel Group (NASDAQ:GIII)

Telsey Advisory Group reissued their market perform rating on shares of G-III Apparel Group (NASDAQ:GIIIFree Report) in a research note released on Monday morning, Benzinga reports. The brokerage currently has a $29.00 target price on the textile maker’s stock.

GIII has been the topic of several other reports. StockNews.com cut shares of G-III Apparel Group from a buy rating to a hold rating in a report on Tuesday, March 19th. TheStreet raised shares of G-III Apparel Group from a c+ rating to a b rating in a report on Thursday, March 14th. UBS Group lowered their target price on shares of G-III Apparel Group from $34.00 to $31.00 and set a neutral rating on the stock in a report on Monday, March 18th. Wells Fargo & Company lowered their target price on shares of G-III Apparel Group from $24.00 to $23.00 and set an underweight rating on the stock in a report on Friday, March 15th. Finally, Barclays reaffirmed an underweight rating and set a $23.00 target price (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $25.83.

Read Our Latest Analysis on GIII

G-III Apparel Group Stock Down 13.5 %

G-III Apparel Group stock opened at $27.08 on Monday. The stock has a market cap of $1.22 billion, a P/E ratio of 7.18 and a beta of 2.26. The company has a quick ratio of 2.31, a current ratio of 3.36 and a debt-to-equity ratio of 0.26. G-III Apparel Group has a twelve month low of $18.47 and a twelve month high of $35.68. The company’s 50-day moving average price is $28.37 and its two-hundred day moving average price is $30.04.

G-III Apparel Group (NASDAQ:GIIIGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. The firm had revenue of $764.80 million for the quarter, compared to analysts’ expectations of $816.98 million. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS. As a group, analysts expect that G-III Apparel Group will post 3.55 EPS for the current year.

Institutional Trading of G-III Apparel Group

Large investors have recently made changes to their positions in the company. Trexquant Investment LP boosted its position in shares of G-III Apparel Group by 569.2% during the 3rd quarter. Trexquant Investment LP now owns 106,039 shares of the textile maker’s stock worth $2,642,000 after acquiring an additional 90,194 shares in the last quarter. Walleye Capital LLC acquired a new stake in G-III Apparel Group in the third quarter valued at approximately $2,280,000. Charles Schwab Investment Management Inc. boosted its position in G-III Apparel Group by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,951 shares of the textile maker’s stock valued at $27,884,000 after buying an additional 60,669 shares in the last quarter. LSV Asset Management boosted its position in G-III Apparel Group by 0.7% in the fourth quarter. LSV Asset Management now owns 874,483 shares of the textile maker’s stock valued at $29,715,000 after buying an additional 5,700 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its position in G-III Apparel Group by 57.7% in the fourth quarter. Artemis Investment Management LLP now owns 169,148 shares of the textile maker’s stock valued at $5,748,000 after buying an additional 61,915 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

About G-III Apparel Group

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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.

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