G-III Apparel Group (NASDAQ:GIII) Shares Up 3.4%

G-III Apparel Group, Ltd. (NASDAQ:GIII)’s share price was up 3.4% during trading on Monday . The company traded as high as $27.43 and last traded at $27.43. Approximately 147,629 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 583,136 shares. The stock had previously closed at $26.54.

Analyst Upgrades and Downgrades

Several analysts recently commented on GIII shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a report on Monday, June 3rd. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group reduced their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Barclays reaffirmed an “underweight” rating and set a $23.00 target price (down previously from $30.00) on shares of G-III Apparel Group in a research note on Monday, March 4th. Finally, Wells Fargo & Company cut their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.60.

G-III Apparel Group Stock Performance

The firm’s 50 day moving average price is $28.18 and its 200-day moving average price is $29.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.62 and a current ratio of 3.79. The firm has a market capitalization of $1.23 billion, a PE ratio of 7.16 and a beta of 2.26.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. The firm had revenue of $609.75 million for the quarter, compared to analyst estimates of $615.10 million. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.75%. On average, research analysts expect that G-III Apparel Group, Ltd. will post 3.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of G-III Apparel Group during the 1st quarter worth $35,000. Quest Partners LLC purchased a new stake in shares of G-III Apparel Group during the 4th quarter worth $56,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of G-III Apparel Group during the 3rd quarter worth $97,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of G-III Apparel Group during the 1st quarter worth $171,000. Finally, Counterpoint Mutual Funds LLC lifted its position in G-III Apparel Group by 12.0% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 5,998 shares of the textile maker’s stock valued at $204,000 after acquiring an additional 644 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Company Profile

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.