G-III Apparel Group (GIII) Upgraded at BidaskClub
BidaskClub upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a buy rating in a research report released on Friday.
A number of other analysts have also recently weighed in on GIII. B. Riley reissued a buy rating on shares of G-III Apparel Group in a report on Wednesday, November 1st. Buckingham Research reissued a buy rating and set a $35.00 target price (up from $30.00) on shares of G-III Apparel Group in a report on Thursday, September 7th. KeyCorp reissued a buy rating and set a $41.00 target price on shares of G-III Apparel Group in a report on Thursday, August 24th. Piper Jaffray Companies set a $33.00 target price on shares of G-III Apparel Group and gave the stock a buy rating in a report on Thursday, November 30th. Finally, Telsey Advisory Group increased their target price on shares of G-III Apparel Group from $36.00 to $39.00 and gave the stock an outperform rating in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $34.83.
G-III Apparel Group (NASDAQ:GIII) opened at $37.07 on Friday. The company has a market cap of $1,823.85, a price-to-earnings ratio of 44.13, a price-to-earnings-growth ratio of 1.66 and a beta of 0.29. G-III Apparel Group has a 52 week low of $18.00 and a 52 week high of $37.39. The company has a current ratio of 3.52, a quick ratio of 1.91 and a debt-to-equity ratio of 0.66.
G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 5th. The textile maker reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.13. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.65%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share. equities research analysts predict that G-III Apparel Group will post 1.5 earnings per share for the current fiscal year.
In related news, Vice Chairman Sammy Aaron sold 51,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $33.62, for a total value of $1,714,620.00. Following the completion of the transaction, the insider now owns 556,152 shares in the company, valued at approximately $18,697,830.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Feller sold 5,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $29.31, for a total transaction of $146,550.00. Following the completion of the transaction, the director now owns 20,609 shares of the company’s stock, valued at approximately $604,049.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,000 shares of company stock worth $1,919,610. Corporate insiders own 9.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in GIII. Columbus Circle Investors bought a new position in G-III Apparel Group in the 3rd quarter valued at about $30,233,000. Victory Capital Management Inc. bought a new position in G-III Apparel Group in the 2nd quarter valued at about $23,202,000. Dimensional Fund Advisors LP grew its position in G-III Apparel Group by 45.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock valued at $72,478,000 after buying an additional 907,701 shares in the last quarter. Phocas Financial Corp. bought a new position in G-III Apparel Group in the 2nd quarter valued at about $13,037,000. Finally, Cramer Rosenthal Mcglynn LLC grew its position in G-III Apparel Group by 26.7% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,816,332 shares of the textile maker’s stock valued at $45,317,000 after buying an additional 382,482 shares in the last quarter.
About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.
Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.