G-III Apparel Group, Ltd. (NASDAQ:GIII) shares gapped down before the market opened on Friday after KeyCorp lowered their price target on the stock from $58.00 to $52.00. The stock had previously closed at $32.82, but opened at $34.91. KeyCorp currently has an overweight rating on the stock. G-III Apparel Group shares last traded at $34.26, with a volume of 46715 shares traded.
Several other research analysts have also weighed in on the stock. Telsey Advisory Group lowered their target price on shares of G-III Apparel Group from $54.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday. Piper Jaffray Companies set a $50.00 target price on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research lowered shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 13th. BidaskClub raised shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 2nd. Finally, Cowen set a $45.00 target price on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, October 18th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.91.
In other news, COO Wayne S. Miller sold 19,448 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $40.09, for a total value of $779,670.32. Following the completion of the transaction, the chief operating officer now owns 248,621 shares of the company’s stock, valued at $9,967,215.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 9.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GIII. Group One Trading L.P. boosted its stake in shares of G-III Apparel Group by 118.7% in the third quarter. Group One Trading L.P. now owns 3,103 shares of the textile maker’s stock valued at $150,000 after purchasing an additional 1,684 shares during the period. Moody National Bank Trust Division acquired a new stake in G-III Apparel Group in the third quarter valued at approximately $188,000. Acadian Asset Management LLC acquired a new stake in G-III Apparel Group in the second quarter valued at approximately $193,000. AMP Capital Investors Ltd acquired a new stake in G-III Apparel Group in the second quarter valued at approximately $266,000. Finally, Pitcairn Co. acquired a new stake in G-III Apparel Group in the third quarter valued at approximately $292,000.
The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.04 and a beta of 0.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 2.12.
G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. G-III Apparel Group had a net margin of 3.39% and a return on equity of 10.67%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 earnings per share. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 2.61 earnings per share for the current fiscal year.
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About G-III Apparel Group (NASDAQ:GIII)
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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