G-III Apparel Group Ltd. (GIII) Trading 4.1% Higher
G-III Apparel Group Ltd. (NASDAQ:GIII) traded up 4.1% on Tuesday . The stock traded as high as $44.48 and last traded at $44.45, with a volume of 199,412 shares trading hands. The stock had previously closed at $42.68.
Several equities research analysts recently weighed in on the stock. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $51.00 target price on shares of G-III Apparel Group in a research note on Monday, May 2nd. Brean Capital assumed coverage on shares of G-III Apparel Group in a research note on Tuesday, June 21st. They issued a “buy” rating and a $51.00 target price for the company. Zacks Investment Research upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Telsey Advisory Group cut shares of G-III Apparel Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $54.00 to $45.00 in a research note on Tuesday, July 26th. Finally, Cowen and Company cut shares of G-III Apparel Group from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a research note on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. G-III Apparel Group presently has a consensus rating of “Buy” and an average target price of $56.36.
The stock has a market capitalization of $2.03 billion and a P/E ratio of 18.89. The firm has a 50 day moving average of $44.43 and a 200-day moving average of $45.41.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, June 1st. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $457.40 million for the quarter, compared to analyst estimates of $473.22 million. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, equities research analysts forecast that G-III Apparel Group Ltd. will post $2.58 EPS for the current year.
A number of hedge funds and institutional investors recently made changes to their positions in GIII. Morgan Stanley raised 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 worth $24,332,000 after buying an additional 165,247 shares during the period. RS Investment Management Co. LLC raised 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 worth $53,406,000 after buying an additional 566,990 shares during the period. Finally, Jennison Associates LLC raised 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 period.
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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