G-III Apparel Group (NASDAQ:GIII) has been given a $54.00 price objective by equities research analysts at Piper Jaffray Companies in a report released on Tuesday, September 18th, The Fly reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 42.93% from the stock’s previous close.
A number of other analysts also recently commented on GIII. Zacks Investment Research downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Cowen upgraded shares of G-III Apparel Group from a “market perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Wednesday, May 30th. Telsey Advisory Group boosted their target price on shares of G-III Apparel Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, June 1st. Barclays upgraded shares of G-III Apparel Group from an “underweight” rating to an “equal weight” rating and set a $33.00 target price on the stock in a report on Wednesday, June 6th. Finally, B. Riley boosted their target price on shares of G-III Apparel Group to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, June 6th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $52.18.
G-III Apparel Group stock traded up $1.18 during midday trading on Tuesday, reaching $37.78. 574,628 shares of the stock traded hands, compared to its average volume of 647,201. G-III Apparel Group has a fifty-two week low of $23.19 and a fifty-two week high of $51.20. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.23 and a beta of 0.08. 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 (NASDAQ:GIII) last released its quarterly earnings results on Thursday, September 6th. The textile maker reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.19. G-III Apparel Group had a net margin of 3.39% and a return on equity of 10.67%. The company had revenue of $624.70 million for the quarter, compared to the consensus estimate of $590.16 million. During the same period in the previous year, the firm earned ($0.15) EPS. G-III Apparel Group’s revenue was up 16.1% on a year-over-year basis. Research analysts expect that G-III Apparel Group will post 2.61 earnings per share for the current year.
In related news, COO Wayne S. Miller sold 19,448 shares of the business’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 transaction of $779,670.32. Following the transaction, the chief operating officer now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can grew its position in 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 worth $2,171,000 after acquiring an additional 4,212 shares in the last quarter. Personal Capital Advisors Corp grew its position in G-III Apparel Group by 4.8% in the third quarter. Personal Capital Advisors Corp now owns 120,159 shares of the textile maker’s stock worth $5,790,000 after acquiring an additional 5,518 shares in the last quarter. Copper Rock Capital Partners LLC bought a new stake in G-III Apparel Group in the third quarter worth approximately $24,060,000. United Services Automobile Association grew its position in G-III Apparel Group by 790.0% in the second quarter. United Services Automobile Association now owns 57,069 shares of the textile maker’s stock worth $2,534,000 after acquiring an additional 50,657 shares in the last quarter. Finally, Northern Trust Corp grew its position in G-III Apparel Group by 9.6% in the second quarter. Northern Trust Corp now owns 627,475 shares of the textile maker’s stock worth $27,860,000 after acquiring an additional 54,857 shares in 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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