G-III Apparel Group, Ltd. (NASDAQ:GIII) – B. Riley raised their FY2020 earnings estimates for shares of G-III Apparel Group in a research report issued to clients and investors on Thursday, October 18th. B. Riley analyst S. Anderson now expects that the textile maker will post earnings of $3.00 per share for the year, up from their previous forecast of $2.76. B. Riley has a “Buy” rating and a $47.00 price objective on the stock.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 6th. The textile maker reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.19. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The business had revenue of $624.70 million during the quarter, compared to the consensus estimate of $590.16 million. During the same period in the prior year, the company earned ($0.15) EPS. G-III Apparel Group’s revenue for the quarter was up 16.1% on a year-over-year basis.
Other equities analysts have also recently issued research reports about the company. Cowen set a $45.00 target price on G-III Apparel Group and gave the stock a “buy” rating in a report on Thursday. Piper Jaffray Companies set a $54.00 target price on G-III Apparel Group and gave the stock a “buy” rating in a report on Tuesday, September 18th. Buckingham Research upped their target price on G-III Apparel Group from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, September 7th. BidaskClub cut G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 3rd. Finally, Needham & Company LLC began coverage on G-III Apparel Group in a report on Thursday, June 21st. They issued a “buy” rating and a $53.00 target price for the company. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $50.64.
Shares of GIII stock opened at $37.56 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.12 and a debt-to-equity ratio of 0.45. G-III Apparel Group has a twelve month low of $23.19 and a twelve month high of $51.20. The firm has a market cap of $1.91 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 0.99 and a beta of 0.08.
Several hedge funds have recently modified their holdings of the company. Peregrine Capital Management LLC increased its stake in shares of G-III Apparel Group by 13.0% in the third quarter. Peregrine Capital Management LLC now owns 526,235 shares of the textile maker’s stock valued at $25,359,000 after buying an additional 60,474 shares during the period. Foundry Partners LLC acquired a new stake in shares of G-III Apparel Group in the third quarter valued at about $1,997,000. First Hawaiian Bank acquired a new stake in shares of G-III Apparel Group in the third quarter valued at about $299,000. Scout Investments Inc. increased its stake in shares of G-III Apparel Group by 2.4% in the third quarter. Scout Investments Inc. now owns 85,437 shares of the textile maker’s stock valued at $4,117,000 after buying an additional 1,982 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of G-III Apparel Group by 10.3% in the third quarter. Bank of Montreal Can now owns 45,058 shares of the textile maker’s stock valued at $2,171,000 after buying an additional 4,212 shares during the period.
In other news, COO Wayne S. Miller sold 19,448 shares of the stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the completion of the sale, the chief operating officer now owns 248,621 shares of the company’s stock, valued at $9,967,215.89. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.80% of the company’s stock.
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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