Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) have received a consensus rating of “Buy” from the sixteen research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $48.18.
Several research firms have recently issued reports on GIII. Telsey Advisory Group increased their price target on G-III Apparel Group from $48.00 to $54.00 and gave the stock an “outperform” rating in a research note on Saturday, June 9th. Zacks Investment Research raised G-III Apparel Group from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research note on Thursday, June 7th. Buckingham Research increased their price target on G-III Apparel Group from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, June 6th. Stifel Nicolaus increased their price target on G-III Apparel Group from $33.00 to $45.00 and gave the stock a “hold” rating in a research note on Wednesday, June 6th. Finally, Cowen set a $54.00 price target on G-III Apparel Group and gave the stock a “buy” rating in a research note on Wednesday, June 6th.
In related news, Director Bokhorst Willem Van sold 9,323 shares of the firm’s stock in a transaction dated Friday, July 13th. The stock was sold at an average price of $44.04, for a total transaction of $410,584.92. Following the completion of the transaction, the director now owns 45,451 shares of the company’s stock, valued at $2,001,662.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Feller sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $48.75, for a total value of $243,750.00. Following the transaction, the director now directly owns 12,609 shares of the company’s stock, valued at approximately $614,688.75. The disclosure for this sale can be found here. In the last three months, insiders sold 967,513 shares of company stock valued at $45,759,996. Company insiders own 9.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in GIII. Millennium Management LLC boosted its stake in G-III Apparel Group by 2,669.2% during the fourth quarter. Millennium Management LLC now owns 502,825 shares of the textile maker’s stock valued at $18,549,000 after buying an additional 484,667 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in G-III Apparel Group by 310.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 474,184 shares of the textile maker’s stock valued at $17,493,000 after buying an additional 358,585 shares in the last quarter. Renaissance Technologies LLC bought a new position in G-III Apparel Group during the fourth quarter valued at about $8,400,000. Elk Creek Partners LLC bought a new position in G-III Apparel Group during the first quarter valued at about $6,736,000. Finally, Columbus Circle Investors boosted its stake in G-III Apparel Group by 11.3% during the first quarter. Columbus Circle Investors now owns 1,701,637 shares of the textile maker’s stock valued at $64,118,000 after buying an additional 172,747 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.
G-III Apparel Group traded down $0.01, reaching $47.33, during trading on Friday, according to Marketbeat.com. 27,896 shares of the company were exchanged, compared to its average volume of 523,642. The company has a market cap of $2.31 billion, a P/E ratio of 29.78, a PEG ratio of 1.33 and a beta of 0.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.35 and a quick ratio of 1.33. G-III Apparel Group has a 52 week low of $22.66 and a 52 week high of $51.20.
G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Tuesday, June 5th. The textile maker reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.27. G-III Apparel Group had a return on equity of 9.15% and a net margin of 2.85%. The firm had revenue of $611.70 million during the quarter, compared to the consensus estimate of $570.59 million. During the same period in the prior year, the business earned ($0.21) EPS. The firm’s revenue was up 15.6% on a year-over-year basis. research analysts anticipate that G-III Apparel Group will post 2.35 earnings per share for the current year.
About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures, 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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