BTIG Research Forecasts Strong Price Appreciation for G-III Apparel Group (NASDAQ:GIII) Stock

G-III Apparel Group (NASDAQ:GIII) had its price target hoisted by equities researchers at BTIG Research from $34.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. BTIG Research’s price objective suggests a potential upside of 16.53% from the company’s previous close.

GIII has been the subject of several other reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 target price (down from $34.00) on shares of G-III Apparel Group in a research note on Monday, March 9th. 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. Finally, Zacks Research raised shares of G-III Apparel Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and a consensus price target of $30.20.

G-III Apparel Group Trading Up 7.1%

NASDAQ GIII traded up $2.29 on Friday, hitting $34.33. 874,253 shares of the company’s stock traded hands, compared to its average volume of 491,101. G-III Apparel Group has a 1-year low of $20.33 and a 1-year high of $35.84. The firm’s 50-day moving average price is $30.13 and its two-hundred day moving average price is $29.77. The firm has a market capitalization of $1.45 billion, a PE ratio of 22.94 and a beta of 1.29.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Friday, June 5th. The textile maker reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.09. G-III Apparel Group had a net margin of 2.28% and a return on equity of 6.70%. The business had revenue of $535.96 million during the quarter, compared to analysts’ expectations of $529.07 million. During the same period in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. 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. On average, research analysts anticipate that G-III Apparel Group will post 2.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of G-III Apparel Group by 107.7% during the fourth quarter. GAMMA Investing LLC now owns 941 shares of the textile maker’s stock worth $27,000 after purchasing an additional 488 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of G-III Apparel Group by 105.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,153 shares of the textile maker’s stock worth $31,000 after purchasing an additional 591 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth about $34,000. Federated Hermes Inc. acquired a new stake in shares of G-III Apparel Group during the third quarter worth about $40,000. Finally, Parallel Advisors LLC lifted its position in shares of G-III Apparel Group by 231.9% during the fourth quarter. Parallel Advisors LLC now owns 1,779 shares of the textile maker’s stock worth $52,000 after purchasing an additional 1,243 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.