Several other analysts have also issued reports on GIII. KeyCorp reduced their target price on G-III Apparel Group from $52.00 to $45.00 and set an overweight rating on the stock in a report on Thursday, June 6th. Needham & Company LLC set a $47.00 target price on G-III Apparel Group and gave the stock a buy rating in a report on Thursday, June 6th. Zacks Investment Research lowered G-III Apparel Group from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Bank of America reduced their target price on G-III Apparel Group from $43.00 to $35.00 and set a buy rating on the stock in a report on Thursday, June 6th. Finally, Piper Jaffray Companies lowered G-III Apparel Group from an overweight rating to a neutral rating and reduced their target price for the stock from $43.00 to $35.00 in a report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $41.70.
NASDAQ GIII traded up $0.69 on Friday, reaching $21.16. The stock had a trading volume of 905,200 shares, compared to its average volume of 709,263. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.17 and a quick ratio of 1.17. The firm has a fifty day moving average of $26.90 and a two-hundred day moving average of $32.90. G-III Apparel Group has a 1-year low of $19.89 and a 1-year high of $50.83. The company has a market cap of $1.04 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.39.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Wednesday, June 5th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $633.60 million for the quarter, compared to analyst estimates of $650.03 million. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. G-III Apparel Group’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. Research analysts predict that G-III Apparel Group will post 3.27 EPS for the current fiscal year.
In other news, CEO Morris Goldfarb bought 40,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was purchased at an average cost of $26.47 per share, for a total transaction of $1,058,800.00. Following the completion of the transaction, the chief executive officer now owns 3,250,483 shares of the company’s stock, valued at $86,040,285.01. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. FTB Advisors Inc. acquired a new stake in shares of G-III Apparel Group in the second quarter valued at about $27,000. CenterStar Asset Management LLC acquired a new stake in shares of G-III Apparel Group in the first quarter valued at about $105,000. Price Wealth Management Inc. acquired a new stake in shares of G-III Apparel Group in the second quarter valued at about $113,000. Glen Harbor Capital Management LLC increased its stake in shares of G-III Apparel Group by 14.7% in the second quarter. Glen Harbor Capital Management LLC now owns 4,608 shares of the textile maker’s stock valued at $136,000 after buying an additional 592 shares during the period. Finally, Riverhead Capital Management LLC increased its stake in shares of G-III Apparel Group by 15.8% in the second quarter. Riverhead Capital Management LLC now owns 5,131 shares of the textile maker’s stock valued at $151,000 after buying an additional 700 shares during the period.
G-III Apparel Group Company Profile
G-III Apparel Group, Ltd. designs, sources, 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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