A number of other research firms also recently weighed in on GIII. ValuEngine downgraded G-III Apparel Group from a hold rating to a sell rating in a research report on Monday, May 13th. Zacks Investment Research downgraded G-III Apparel Group from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Piper Jaffray Companies downgraded G-III Apparel Group from an overweight rating to a neutral rating and dropped their target price for the stock from $43.00 to $35.00 in a research report on Tuesday, May 14th. TheStreet downgraded G-III Apparel Group from a b- rating to a c+ rating in a research report on Wednesday, June 5th. Finally, Needham & Company LLC set a $47.00 target price on G-III Apparel Group and gave the stock a buy rating in a research report 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’s stock. The stock presently has an average rating of Buy and a consensus price target of $41.70.
G-III Apparel Group stock opened at $25.25 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 0.74 and a beta of 1.39. The business has a fifty day simple moving average of $27.82. G-III Apparel Group has a 52 week low of $23.34 and a 52 week high of $50.83.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $633.60 million for the quarter, compared to analyst estimates of $650.03 million. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. As a group, equities analysts forecast that G-III Apparel Group will post 3.27 EPS for the current year.
In related news, CEO Morris Goldfarb acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average price of $26.47 per share, for a total transaction of $1,058,800.00. Following the completion of the acquisition, the chief executive officer now owns 3,250,483 shares of the company’s stock, valued at approximately $86,040,285.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIII. FTB Advisors Inc. bought a new stake in G-III Apparel Group in the second quarter valued at about $27,000. CenterStar Asset Management LLC bought a new stake in G-III Apparel Group in the first quarter valued at about $105,000. Nvwm LLC increased its holdings in G-III Apparel Group by 9.9% in the first quarter. Nvwm LLC now owns 4,276 shares of the textile maker’s stock valued at $171,000 after purchasing an additional 384 shares during the last quarter. Yorktown Management & Research Co Inc bought a new stake in G-III Apparel Group in the second quarter valued at about $203,000. Finally, Everence Capital Management Inc. bought a new stake in G-III Apparel Group in the first quarter valued at about $204,000.
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.
Further Reading: The primary rules of Elliott Wave theory
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.