Analysts Set G-III Apparel Group, LTD. (NASDAQ:GIII) Price Target at $29.00

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, 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 issued a report on the stock in the last year is $33.00.

Several research firms have weighed in on GIII. KeyCorp reaffirmed an “overweight” rating and set a $40.00 target price (up from $35.00) on shares of G-III Apparel Group in a research note on Monday. Zacks Research raised G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings raised G-III Apparel Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. UBS Group lowered their target price on G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Finally, BTIG Research upped their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 5th.

G-III Apparel Group Stock Up 4.7%

Shares of G-III Apparel Group stock opened at $35.67 on Friday. The stock’s fifty day moving average is $30.87 and its 200-day moving average is $30.02. The firm has a market capitalization of $1.50 billion, a PE ratio of 12.60 and a beta of 1.29. G-III Apparel Group has a 12-month low of $20.33 and a 12-month high of $36.53.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The company had revenue of $535.96 million for the quarter, compared to analyst estimates of $529.07 million. G-III Apparel Group had a return on equity of 5.59% and a net margin of 4.34%.G-III Apparel Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 earnings per share. 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. Analysts expect that G-III Apparel Group will post 2.23 EPS for the current year.

G-III Apparel Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, June 22nd. G-III Apparel Group’s dividend payout ratio is presently 14.13%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new position in G-III Apparel Group in the 3rd quarter worth about $5,878,000. LSV Asset Management increased its position in G-III Apparel Group by 34.7% in the 3rd quarter. LSV Asset Management now owns 1,144,233 shares of the textile maker’s stock worth $30,448,000 after purchasing an additional 294,732 shares during the last quarter. Phocas Financial Corp. increased its position in G-III Apparel Group by 77.2% in the 4th quarter. Phocas Financial Corp. now owns 244,406 shares of the textile maker’s stock worth $7,078,000 after purchasing an additional 106,497 shares during the last quarter. AlphaQuest LLC increased its position in G-III Apparel Group by 251.4% in the 4th quarter. AlphaQuest LLC now owns 70,278 shares of the textile maker’s stock worth $2,035,000 after purchasing an additional 50,279 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in G-III Apparel Group by 177.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 167,762 shares of the textile maker’s stock worth $4,464,000 after purchasing an additional 107,204 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

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.