G-III Apparel Group (GIII) Trading Up 7.3%

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G-III Apparel Group, Ltd. (NASDAQ:GIII) was up 7.3% on Friday . The stock traded as high as $32.09 and last traded at $31.95. Approximately 882,855 shares changed hands during trading, an increase of 23% from the average daily volume of 719,004 shares. The stock had previously closed at $29.77.

Several equities research analysts have recently weighed in on GIII shares. Piper Jaffray Companies set a $54.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Buckingham Research reduced their price objective on 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. B. Riley raised G-III Apparel Group from a “neutral” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, October 18th. Cowen set a $45.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, October 18th. Finally, BidaskClub lowered G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.55.

The firm has a market cap of $1.56 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.77 and a beta of 0.73. The company has a quick ratio of 1.55, a current ratio of 2.54 and a debt-to-equity ratio of 0.59.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.07. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. G-III Apparel Group had a return on equity of 11.60% and a net margin of 3.75%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 earnings per share. On average, sell-side analysts forecast that G-III Apparel Group, Ltd. will post 2.75 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in shares of G-III Apparel Group by 17.6% during the second quarter. First Trust Advisors LP now owns 25,632 shares of the textile maker’s stock valued at $1,138,000 after purchasing an additional 3,829 shares during the period. BlackRock Inc. boosted its stake in shares of G-III Apparel Group by 6.5% during the second quarter. BlackRock Inc. now owns 5,782,367 shares of the textile maker’s stock valued at $256,736,000 after purchasing an additional 351,433 shares during the period. Legal & General Group Plc boosted its stake in shares of G-III Apparel Group by 5.3% during the second quarter. Legal & General Group Plc now owns 92,866 shares of the textile maker’s stock valued at $4,170,000 after purchasing an additional 4,697 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of G-III Apparel Group by 745.4% during the second quarter. OppenheimerFunds Inc. now owns 376,984 shares of the textile maker’s stock valued at $16,739,000 after purchasing an additional 332,389 shares during the period. Finally, Laurion Capital Management LP boosted its stake in shares of G-III Apparel Group by 426.0% during the second quarter. Laurion Capital Management LP now owns 28,930 shares of the textile maker’s stock valued at $1,285,000 after purchasing an additional 23,430 shares during the period.

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G-III Apparel Group Company Profile (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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