G-III Apparel Group (NASDAQ:GIII) had its price target increased by Piper Jaffray Companies from $22.00 to $25.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the textile maker’s stock. Piper Jaffray Companies also issued estimates for G-III Apparel Group’s Q3 2020 earnings at $1.94 EPS, Q4 2020 earnings at $0.74 EPS and Q1 2021 earnings at $0.23 EPS.
A number of other equities research analysts have also issued reports on the stock. Stifel Nicolaus set a $22.00 price target on shares of G-III Apparel Group and gave the company a hold rating in a report on Friday, September 6th. TheStreet lowered shares of G-III Apparel Group from a b- rating to a c+ rating in a report on Wednesday, June 5th. Bank of America lowered shares of G-III Apparel Group from a buy rating to a neutral rating and cut their price target for the company from $35.00 to $21.00 in a report on Wednesday, September 4th. Zacks Investment Research lowered shares of G-III Apparel Group from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Finally, Telsey Advisory Group lowered shares of G-III Apparel Group from an outperform rating to a market perform rating and cut their price target for the company from $34.00 to $20.00 in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $33.40.
NASDAQ GIII opened at $26.86 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.08 and a quick ratio of 1.17. The company’s 50 day simple moving average is $23.47 and its 200 day simple moving average is $31.14. G-III Apparel Group has a 12 month low of $18.18 and a 12 month high of $48.79. The company has a market capitalization of $1.30 billion, a P/E ratio of 9.39, a PEG ratio of 0.80 and a beta of 1.47.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 5th. The textile maker reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.37%. The business had revenue of $643.90 million for the quarter, compared to the consensus estimate of $656.16 million. During the same period in the previous year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts anticipate that G-III Apparel Group will post 3.19 earnings per share for the current year.
In related news, CEO Morris Goldfarb acquired 40,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were purchased at an average price of $26.47 per share, for a total transaction of $1,058,800.00. Following the purchase, the chief executive officer now owns 3,250,483 shares in the company, valued at $86,040,285.01. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. FTB Advisors Inc. acquired a new position in G-III Apparel Group in the 2nd quarter valued at approximately $27,000. Price Wealth Management Inc. acquired a new position in G-III Apparel Group in the 2nd quarter valued at approximately $113,000. Glen Harbor Capital Management LLC increased its stake in G-III Apparel Group by 14.7% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 4,608 shares of the textile maker’s stock valued at $136,000 after buying an additional 592 shares during the period. Riverhead Capital Management LLC increased its stake in G-III Apparel Group by 15.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,131 shares of the textile maker’s stock valued at $151,000 after buying an additional 700 shares during the period. Finally, Nvwm LLC increased its stake in G-III Apparel Group by 9.9% in the 1st quarter. Nvwm LLC now owns 4,276 shares of the textile maker’s stock valued at $171,000 after buying an additional 384 shares during the period.
About G-III Apparel Group
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.
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