Telsey Advisory Group reiterated their outperform rating on shares of G-III Apparel Group (NASDAQ:GIII) in a report published on Friday, MarketBeat reports. They currently have a $47.00 target price on the textile maker’s stock, down from their prior target price of $54.00.
Several other research analysts have also weighed in on the company. BidaskClub lowered G-III Apparel Group from a strong-buy rating to a buy rating in a research report on Friday, October 19th. Cowen upped their target price on G-III Apparel Group from $54.00 to $55.00 and gave the stock an outperform rating in a research report on Thursday, September 6th. Buckingham Research dropped their target price on G-III Apparel Group from $57.00 to $50.00 and set a buy rating on the stock in a research report on Wednesday, October 17th. B. Riley raised G-III Apparel Group from a neutral rating to a buy rating and set a $47.00 target price on the stock in a research report on Thursday, October 18th. Finally, Barclays upped their target price on G-III Apparel Group from $46.00 to $50.00 and gave the stock a hold rating in a research report on Friday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $47.91.
NASDAQ:GIII traded down $2.06 during trading hours on Friday, hitting $32.85. 1,405,140 shares of the company’s stock traded hands, compared to its average volume of 803,757. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 0.85 and a beta of 0.33. G-III Apparel Group has a twelve month low of $30.36 and a twelve month high of $51.20. The company has a current ratio of 2.12, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.07. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. G-III Apparel Group had a return on equity of 11.83% and a net margin of 3.75%. G-III Apparel Group’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. Equities analysts forecast that G-III Apparel Group will post 2.75 earnings per share for the current year.
In other news, COO Wayne S. Miller sold 19,448 shares of the company’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $40.09, for a total transaction of $779,670.32. Following the completion of the sale, the chief operating officer now owns 248,621 shares in the company, valued at approximately $9,967,215.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Group One Trading L.P. boosted its stake in shares of G-III Apparel Group by 118.7% during the 3rd quarter. Group One Trading L.P. now owns 3,103 shares of the textile maker’s stock worth $150,000 after acquiring an additional 1,684 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of G-III Apparel Group during the 3rd quarter worth about $188,000. Acadian Asset Management LLC bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $193,000. AMP Capital Investors Ltd bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $266,000. Finally, Pitcairn Co. bought a new stake in shares of G-III Apparel Group during the 3rd quarter worth about $292,000.
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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