BidaskClub upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a strong-buy rating in a research note released on Friday.
A number of other analysts also recently issued reports on the company. ValuEngine downgraded G-III Apparel Group from a buy rating to a hold rating in a report on Friday, September 7th. Piper Jaffray Companies set a $54.00 price target on G-III Apparel Group and gave the stock a buy rating in a report on Tuesday, September 18th. Needham & Company LLC set a $56.00 price target on G-III Apparel Group and gave the stock a buy rating in a report on Friday, September 7th. Buckingham Research decreased their price target on G-III Apparel Group from $57.00 to $50.00 and set a buy rating for the company in a report on Wednesday, October 17th. Finally, Cowen lifted their price target on G-III Apparel Group from $54.00 to $55.00 and gave the stock an outperform rating in a report on Thursday, September 6th. Four investment 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 stock. The company has a consensus rating of Buy and an average target price of $50.64.
Shares of NASDAQ GIII opened at $41.01 on Friday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 1.08 and a beta of 0.35. 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 1 year low of $23.19 and a 1 year high of $51.20.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, September 6th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.19. The company had revenue of $624.70 million during the quarter, compared to the consensus estimate of $590.16 million. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. G-III Apparel Group’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) EPS. On average, equities research analysts expect that G-III Apparel Group will post 2.61 EPS for the current fiscal year.
In other news, COO Wayne S. Miller sold 19,448 shares of the business’s 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 directly owns 248,621 shares of the company’s stock, valued at approximately $9,967,215.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.80% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of GIII. JPMorgan Chase & Co. lifted its holdings in shares of G-III Apparel Group by 472.0% in the 1st quarter. JPMorgan Chase & Co. now owns 69,933 shares of the textile maker’s stock valued at $2,635,000 after purchasing an additional 57,707 shares during the last quarter. UBS Group AG lifted its holdings in shares of G-III Apparel Group by 688.1% in the 1st quarter. UBS Group AG now owns 28,545 shares of the textile maker’s stock valued at $1,076,000 after purchasing an additional 24,923 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of G-III Apparel Group by 5.6% in the 1st quarter. Legal & General Group Plc now owns 88,169 shares of the textile maker’s stock valued at $3,290,000 after purchasing an additional 4,713 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of G-III Apparel Group in the 1st quarter valued at about $246,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of G-III Apparel Group by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 333,867 shares of the textile maker’s stock valued at $12,580,000 after purchasing an additional 11,171 shares during the last quarter.
G-III Apparel Group Company Profile
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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