G-III Apparel Group (NASDAQ:GIII) had its price objective reduced by Telsey Advisory Group from $53.00 to $42.00 in a research note released on Friday morning. Telsey Advisory Group currently has an outperform rating on the textile maker’s stock.
Other equities research analysts have also recently issued reports about the stock. Piper Jaffray Companies reiterated a buy rating on shares of G-III Apparel Group in a research report on Thursday, February 1st. KeyCorp restated a buy rating and issued a $45.00 price objective on shares of G-III Apparel Group in a report on Thursday, January 11th. BidaskClub upgraded shares of G-III Apparel Group from a hold rating to a buy rating in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of G-III Apparel Group from a hold rating to a buy rating and set a $40.00 price objective for the company in a report on Friday, March 9th. Finally, Cowen set a $32.00 price objective on shares of G-III Apparel Group and gave the company a hold rating in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. G-III Apparel Group presently has an average rating of Hold and a consensus target price of $36.82.
Shares of G-III Apparel Group (NASDAQ:GIII) traded up $1.83 on Friday, hitting $34.84. 1,548,234 shares of the company’s stock were exchanged, compared to its average volume of 594,840. G-III Apparel Group has a 1-year low of $18.00 and a 1-year high of $40.96. The firm has a market capitalization of $1,620.16, a PE ratio of 27.87, a PEG ratio of 1.08 and a beta of 0.26. The company has a current ratio of 3.52, a quick ratio of 1.91 and a debt-to-equity ratio of 0.66.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 22nd. The textile maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. G-III Apparel Group had a net margin of 2.21% and a return on equity of 7.57%. The business had revenue of $714.90 million during the quarter, compared to analysts’ expectations of $707.64 million. During the same period last year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. equities analysts forecast that G-III Apparel Group will post 2.03 earnings per share for the current year.
In related news, Director Bokhorst Willem Van sold 7,518 shares of G-III Apparel Group stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $37.51, for a total value of $282,000.18. Following the completion of the transaction, the director now owns 48,667 shares in the company, valued at $1,825,499.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.60% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Elkfork Partners LLC purchased a new position in G-III Apparel Group in the fourth quarter worth approximately $156,000. Envestnet Asset Management Inc. lifted its stake in G-III Apparel Group by 16.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,599 shares of the textile maker’s stock worth $465,000 after acquiring an additional 1,736 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in G-III Apparel Group in the fourth quarter worth approximately $776,000. Municipal Employees Retirement System of Michigan lifted its stake in G-III Apparel Group by 67.1% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 26,010 shares of the textile maker’s stock worth $959,000 after acquiring an additional 10,440 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in G-III Apparel Group by 41.8% in the fourth quarter. Macquarie Group Ltd. now owns 178,756 shares of the textile maker’s stock worth $6,594,000 after acquiring an additional 52,694 shares during the last quarter. Institutional investors own 98.30% of the company’s stock.
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About G-III Apparel Group
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.
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