G-III Apparel Group, LTD. (GIII) Receives Average Rating of “Buy” from Analysts

G-III Apparel Group, LTD. (NASDAQ:GIII) has received a consensus rating of “Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $34.20.

GIII has been the subject of a number of research analyst reports. BidaskClub raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Cowen set a $23.00 price objective on G-III Apparel Group and gave the company a “hold” rating in a research note on Monday, August 14th. Standpoint Research cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Piper Jaffray Companies upgraded G-III Apparel Group from a “neutral” rating to an “overweight” rating and set a $27.00 price objective on the stock in a research note on Wednesday, August 23rd.

Shares of G-III Apparel Group (GIII) traded up $0.77 on Friday, reaching $35.07. 1,650,549 shares of the company were exchanged, compared to its average volume of 859,289. The company has a market cap of $1,469.57, a price-to-earnings ratio of 29.84, a PEG ratio of 1.48 and a beta of 0.29. The company has a quick ratio of 1.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.56. G-III Apparel Group has a 12-month low of $18.00 and a 12-month high of $35.95.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, December 5th. The textile maker reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.13. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. G-III Apparel Group had a net margin of 1.23% and a return on equity of 4.65%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. research analysts anticipate that G-III Apparel Group will post 1.36 earnings per share for the current fiscal year.

In other G-III Apparel Group news, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $29.56, for a total transaction of $1,478,000.00. Following the completion of the sale, the chief operating officer now directly owns 269,531 shares in the company, valued at $7,967,336.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan Feller sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $29.22, for a total transaction of $58,440.00. Following the sale, the director now owns 20,609 shares of the company’s stock, valued at $602,194.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,000 shares of company stock worth $1,682,990. Insiders own 9.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in GIII. Bank of New York Mellon Corp boosted its position in G-III Apparel Group by 74.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,574,206 shares of the textile maker’s stock worth $139,077,000 after acquiring an additional 2,383,043 shares during the last quarter. Columbus Circle Investors bought a new stake in G-III Apparel Group in the third quarter worth approximately $30,233,000. Victory Capital Management Inc. bought a new stake in G-III Apparel Group in the second quarter worth approximately $23,202,000. Dimensional Fund Advisors LP grew its stake in G-III Apparel Group by 45.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock valued at $72,478,000 after acquiring an additional 907,701 shares during the period. Finally, Phocas Financial Corp. purchased a new position in G-III Apparel Group during the second quarter worth about $13,037,000.

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G-III Apparel Group Company Profile

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.

Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

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