G-III Apparel Group, Ltd. (NASDAQ:GIII) shares were down 5.7% during mid-day trading on Thursday . The stock traded as low as $28.97 and last traded at $29.77. Approximately 1,369,501 shares were traded during mid-day trading, an increase of 101% from the average daily volume of 682,886 shares. The stock had previously closed at $31.57.
Several research analysts recently issued reports on GIII shares. Buckingham Research decreased their price target on shares of G-III Apparel Group from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. BidaskClub lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 15th. Cowen set a $45.00 price target on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, October 18th. B. Riley upgraded shares of G-III Apparel Group from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, October 18th. Finally, Piper Jaffray Companies set a $54.00 price target on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.55.
The company has a market cap of $1.43 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 0.70 and a beta of 0.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 2.54.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, December 6th. The textile maker reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. G-III Apparel Group had a net margin of 3.75% and a return on equity of 11.60%. G-III Apparel Group’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.67 EPS. Equities analysts forecast that G-III Apparel Group, Ltd. will post 2.75 EPS for the current year.
Large investors have recently added to or reduced their stakes in the business. Csenge Advisory Group bought a new stake in G-III Apparel Group during the 3rd quarter valued at about $93,000. Group One Trading L.P. grew its stake in shares of G-III Apparel Group by 118.7% in the third 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 during the period. Moody National Bank Trust Division bought a new stake in shares of G-III Apparel Group in the third quarter worth approximately $188,000. AMP Capital Investors Ltd bought a new stake in shares of G-III Apparel Group in the second quarter worth approximately $266,000. Finally, Pitcairn Co. bought a new stake in shares of G-III Apparel Group in the third quarter worth approximately $292,000.
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About G-III Apparel Group (NASDAQ:GIII)
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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