G-III Apparel Group, Ltd. (NASDAQ:GIII) shares gapped down prior to trading on Wednesday . The stock had previously closed at $31.41, but opened at $28.51. G-III Apparel Group shares last traded at $27.89, with a volume of 2,223,090 shares traded.
A number of equities analysts have recently issued reports on the company. ValuEngine raised G-III Apparel Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Telsey Advisory Group cut G-III Apparel Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $34.00 to $20.00 in a report on Tuesday, September 3rd. Piper Jaffray Companies increased their target price on G-III Apparel Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Stifel Nicolaus set a $22.00 target price on G-III Apparel Group and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, Bank of America raised G-III Apparel Group from a “neutral” rating to a “buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.30.
The stock has a fifty day moving average of $27.67 and a two-hundred day moving average of $26.23. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.26 and a beta of 1.55. The company has a current ratio of 2.08, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. G-III Apparel Group had a return on equity of 12.37% and a net margin of 4.53%. The firm had revenue of $643.90 million during the quarter, compared to analysts’ expectations of $656.16 million. During the same period last year, the firm posted $0.22 EPS. The business’s revenue was up 3.1% on a year-over-year basis. Equities analysts expect that G-III Apparel Group, Ltd. will post 3.19 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY increased its holdings in G-III Apparel Group by 4.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 14,793 shares of the textile maker’s stock valued at $381,000 after purchasing an additional 579 shares in the last quarter. Millennium Management LLC increased its holdings in G-III Apparel Group by 228.3% during the 3rd quarter. Millennium Management LLC now owns 429,737 shares of the textile maker’s stock valued at $11,074,000 after purchasing an additional 298,827 shares in the last quarter. Squarepoint Ops LLC increased its holdings in G-III Apparel Group by 55.9% during the 3rd quarter. Squarepoint Ops LLC now owns 131,182 shares of the textile maker’s stock valued at $3,381,000 after purchasing an additional 47,048 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in G-III Apparel Group during the 3rd quarter valued at $869,000. Finally, Barclays PLC increased its holdings in G-III Apparel Group by 682.9% during the 3rd quarter. Barclays PLC now owns 124,819 shares of the textile maker’s stock valued at $3,217,000 after purchasing an additional 146,231 shares in the last quarter. 99.74% of the stock is owned by hedge funds and other institutional investors.
About G-III Apparel Group (NASDAQ:GIII)
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.
Recommended Story: What is the significance of the death cross?
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.