G-III Apparel Group Ltd. (GIII) Stock Price Down 2.4%
G-III Apparel Group Ltd. (NASDAQ:GIII)’s share price was down 2.4% on Wednesday . The company traded as low as $41.23 and last traded at $43.55, with a volume of 118,609 shares. The stock had previously closed at $44.62.
A number of equities analysts have weighed in on GIII shares. Piper Jaffray Cos. decreased their price target on G-III Apparel Group to $48.00 in a report on Thursday, June 2nd. Cowen and Company reiterated a “buy” rating on shares of G-III Apparel Group in a research note on Sunday, May 22nd. Stephens reiterated a “buy” rating on shares of G-III Apparel Group in a research note on Thursday, May 12th. Brean Capital reiterated a “buy” rating and set a $51.00 target price on shares of G-III Apparel Group in a research note on Tuesday, July 26th. Finally, Zacks Investment Research upgraded G-III Apparel Group from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. G-III Apparel Group currently has a consensus rating of “Buy” and a consensus target price of $56.36.
The firm has a 50 day moving average of $44.43 and a 200 day moving average of $45.41. The company has a market cap of $1.97 billion and a PE ratio of 18.29.
G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Wednesday, June 1st. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The company earned $457.40 million during the quarter, compared to the consensus estimate of $473.22 million. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. On average, equities research analysts anticipate that G-III Apparel Group Ltd. will post $2.58 EPS for the current fiscal year.
Other hedge funds and institutional investors recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of G-III Apparel Group by 14.3% in the fourth quarter. Jennison Associates LLC now owns 1,554,963 shares of the company’s stock worth $68,823,000 after buying an additional 194,028 shares during the last quarter. RS Investment Management Co. LLC increased its position in shares of G-III Apparel Group by 88.6% in the fourth quarter. RS Investment Management Co. LLC now owns 1,206,650 shares of the company’s stock valued at $53,406,000 after buying an additional 566,990 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of G-III Apparel Group by 43.0% in the fourth quarter. Morgan Stanley now owns 549,760 shares of the company’s stock valued at $24,332,000 after buying an additional 165,247 shares in the last quarter.
G-III Apparel Group, Ltd. (G-III) designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations, which consists of its licensed products and non-licensed products, and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under its own brands and private label brands, and retail operations, which consists of the Wilsons Leather and G.H.
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