TheStreet upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a c+ rating to a b- rating in a report published on Tuesday.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of G-III Apparel Group from a buy rating to a hold rating in a research report on Thursday, March 8th. BidaskClub raised shares of G-III Apparel Group from a sell rating to a hold rating in a research report on Friday, March 23rd. B. Riley set a $38.00 price objective on shares of G-III Apparel Group and gave the company a hold rating in a research report on Friday, March 23rd. ValuEngine raised shares of G-III Apparel Group from a hold rating to a buy rating in a research report on Friday, April 27th. Finally, Buckingham Research reduced their price objective on shares of G-III Apparel Group from $46.00 to $45.00 and set a buy rating on the stock in a research report on Friday, March 23rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $47.17.
NASDAQ:GIII opened at $45.97 on Tuesday. G-III Apparel Group has a 52 week low of $21.65 and a 52 week high of $51.20. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.35 and a quick ratio of 1.33. The firm has a market cap of $2.29 billion, a P/E ratio of 28.73, a PEG ratio of 1.32 and a beta of 0.25.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, June 5th. The textile maker reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.27. The company had revenue of $611.70 million during the quarter, compared to analyst estimates of $570.59 million. G-III Apparel Group had a net margin of 2.85% and a return on equity of 9.15%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) EPS. equities research analysts expect that G-III Apparel Group will post 2.35 EPS for the current fiscal year.
In other news, CEO Morris Goldfarb sold 161,190 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $47.11, for a total value of $7,593,660.90. Following the sale, the chief executive officer now directly owns 3,812,427 shares of the company’s stock, valued at approximately $179,603,435.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Wayne S. Miller sold 28,000 shares of the company’s stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $38.56, for a total transaction of $1,079,680.00. Following the completion of the sale, the chief operating officer now directly owns 203,381 shares in the company, valued at $7,842,371.36. The disclosure for this sale can be found here. Insiders sold a total of 987,381 shares of company stock worth $46,475,433 over the last ninety days. Insiders own 9.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Nvwm LLC purchased a new stake in shares of G-III Apparel Group in the 1st quarter worth about $121,000. Elkfork Partners LLC purchased a new stake in shares of G-III Apparel Group in the 4th quarter worth about $156,000. SG Americas Securities LLC purchased a new stake in shares of G-III Apparel Group in the 1st quarter worth about $172,000. Amalgamated Bank purchased a new stake in shares of G-III Apparel Group in the 4th quarter worth about $230,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of G-III Apparel Group in the 1st quarter worth about $246,000. 98.95% of the stock is currently owned by hedge funds and other institutional investors.
About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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.
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