G-III Apparel Group, LTD. (NASDAQ:GIII) Receives $29.00 Consensus Target Price from Brokerages

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $33.00.

A number of equities analysts have weighed in on the stock. BTIG Research raised their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, June 5th. UBS Group decreased their target price on shares of G-III Apparel Group from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 target price (up from $29.00) on shares of G-III Apparel Group in a research note on Monday. Zacks Research raised shares of G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, 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.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds have recently added to or reduced their stakes in GIII. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in G-III Apparel Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,228 shares of the textile maker’s stock worth $635,000 after acquiring an additional 1,018 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in G-III Apparel Group by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,197 shares of the textile maker’s stock worth $2,193,000 after acquiring an additional 6,062 shares during the last quarter. Intech Investment Management LLC raised its holdings in G-III Apparel Group by 14.1% in the 1st quarter. Intech Investment Management LLC now owns 46,076 shares of the textile maker’s stock worth $1,260,000 after acquiring an additional 5,685 shares during the last quarter. Strs Ohio purchased a new position in G-III Apparel Group in the 1st quarter worth approximately $77,000. Finally, First Trust Advisors LP raised its holdings in G-III Apparel Group by 15.7% in the 2nd quarter. First Trust Advisors LP now owns 154,445 shares of the textile maker’s stock worth $3,460,000 after acquiring an additional 20,984 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Price Performance

Shares of GIII opened at $34.00 on Friday. G-III Apparel Group has a one year low of $20.33 and a one year high of $36.53. The company has a 50-day simple moving average of $30.57 and a two-hundred day simple moving average of $29.92. The firm has a market capitalization of $1.43 billion, a PE ratio of 12.01 and a beta of 1.29.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Friday, June 5th. The textile maker reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. G-III Apparel Group had a net margin of 4.34% and a return on equity of 5.65%. The business had revenue of $535.96 million during the quarter, compared to the consensus estimate of $529.07 million. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. 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 fiscal year.

G-III Apparel Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. G-III Apparel Group’s dividend payout ratio (DPR) is currently 14.13%.

G-III Apparel Group Company Profile

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.