G-III Apparel Group, LTD. (NASDAQ:GIII) Stock Has Consensus Price Target of $34.75

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $34.75.

GIII has been the subject of several recent research reports. BTIG Research reiterated a “buy” rating and issued a $40.00 price target on shares of G-III Apparel Group in a research note on Wednesday, September 2nd. Telsey Advisory Group lowered their price objective on G-III Apparel Group from $38.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, September 3rd. Weiss Ratings raised G-III Apparel Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Wall Street Zen downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. Finally, Zacks Research lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th.

Insiders Place Their Bets

In other news, CEO Morris Goldfarb acquired 40,000 shares of G-III Apparel Group stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $27.94 per share, for a total transaction of $1,117,600.00. Following the completion of the purchase, the chief executive officer directly owned 4,527,675 shares of the company’s stock, valued at approximately $126,503,239.50. This represents a 0.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently made changes to their positions in GIII. BlackRock Inc. bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth approximately $232,832,000. Bank of America Corp DE bought a new position in G-III Apparel Group in the second quarter valued at approximately $14,963,000. Bank of New York Mellon Corp bought a new position in G-III Apparel Group in the second quarter valued at approximately $9,113,000. Baird Financial Group Inc. increased its stake in G-III Apparel Group by 8.5% in the second quarter. Baird Financial Group Inc. now owns 266,791 shares of the textile maker’s stock valued at $8,994,000 after acquiring an additional 20,848 shares during the last quarter. Finally, Empowered Funds LLC raised its position in G-III Apparel Group by 3.8% during the first quarter. Empowered Funds LLC now owns 286,375 shares of the textile maker’s stock valued at $7,933,000 after purchasing an additional 10,411 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $27.07 on Thursday. G-III Apparel Group has a 52 week low of $24.61 and a 52 week high of $37.54. The firm’s 50-day simple moving average is $30.41 and its 200 day simple moving average is $31.49. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 8.90 and a beta of 1.28.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Wednesday, September 2nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. G-III Apparel Group had a net margin of 4.75% and a return on equity of 5.53%. The firm had revenue of $554.09 million during the quarter, compared to the consensus estimate of $570.37 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. G-III Apparel Group has set its Q3 2027 guidance at 1.350-1.450 EPS and its FY 2027 guidance at 2.200-2.300 EPS. Sell-side analysts anticipate that G-III Apparel Group will post 2.25 EPS for the current year.

G-III Apparel Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 15th. G-III Apparel Group’s payout ratio is 13.16%.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. is a New York-based apparel and fashion company that designs, sources and markets clothing, footwear, handbags and other accessories. Its product portfolio spans women’s, men’s and children’s apparel, including sportswear, dresses, outerwear, tailored clothing and performance-oriented products.

The company develops and markets products under a portfolio of owned and licensed brands. Its owned brands include DKNY, Donna Karan and Karl Lagerfeld, while its broader business has also included licensed and private-label products created for retail partners.