Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $28.95 and last traded at $28.33. 1,050,226 shares changed hands during trading, an increase of 69% from the average session volume of 620,685 shares. The stock had previously closed at $26.94.
Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Needham & Company LLC set a $47.00 price target on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, June 6th. TheStreet lowered shares of G-III Apparel Group from a “b-” rating to a “c+” rating in a research note on Wednesday, June 5th. KeyCorp decreased their price target on shares of G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Finally, Bank of America reduced their price objective on shares of G-III Apparel Group from $43.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $41.70.
The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.78 and a beta of 1.37. The company has a quick ratio of 1.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $28.87.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. The business had revenue of $633.60 million during the quarter, compared to analyst estimates of $650.03 million. During the same period in the previous year, the business earned $0.22 EPS. G-III Apparel Group’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that G-III Apparel Group, Ltd. will post 3.27 EPS for the current fiscal year.
In other G-III Apparel Group news, Director Laura H. Pomerantz sold 2,105 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $41.52, for a total value of $87,399.60. Following the completion of the transaction, the director now directly owns 36,756 shares of the company’s stock, valued at approximately $1,526,109.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Sammy Aaron sold 71,766 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $41.33, for a total transaction of $2,966,088.78. Following the completion of the transaction, the insider now directly owns 434,969 shares of the company’s stock, valued at $17,977,268.77. The disclosure for this sale can be found here. Insiders sold a total of 74,692 shares of company stock valued at $3,086,681 over the last quarter. 8.60% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Bruderman Asset Management LLC bought a new position in G-III Apparel Group in the 4th quarter valued at $33,000. Acadian Asset Management LLC lifted its holdings in shares of G-III Apparel Group by 1,780.0% during the 4th quarter. Acadian Asset Management LLC now owns 1,974 shares of the textile maker’s stock worth $55,000 after acquiring an additional 1,869 shares during the last quarter. CenterStar Asset Management LLC bought a new stake in shares of G-III Apparel Group during the 1st quarter worth $105,000. Nvwm LLC lifted its holdings in shares of G-III Apparel Group by 9.9% during the 1st quarter. Nvwm LLC now owns 4,276 shares of the textile maker’s stock worth $171,000 after acquiring an additional 384 shares during the last quarter. Finally, NumerixS Investment Technologies Inc lifted its holdings in shares of G-III Apparel Group by 6.6% during the 4th quarter. NumerixS Investment Technologies Inc now owns 4,902 shares of the textile maker’s stock worth $136,000 after acquiring an additional 302 shares during the last quarter.
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.
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