BidaskClub upgraded shares of G-III Apparel Group, LTD. (NASDAQ:GIII) from a sell rating to a hold rating in a report published on Wednesday morning.

Other analysts have also issued research reports about the company. Wunderlich restated a buy rating and issued a $33.00 price objective on shares of G-III Apparel Group, LTD. in a report on Tuesday, June 6th. Stifel Nicolaus restated a hold rating and issued a $20.00 price objective on shares of G-III Apparel Group, LTD. in a report on Friday, May 26th. Zacks Investment Research upgraded G-III Apparel Group, LTD. from a sell rating to a hold rating and set a $30.00 price objective for the company in a report on Thursday, June 8th. Piper Jaffray Companies set a $22.00 price objective on G-III Apparel Group, LTD. and gave the company a hold rating in a report on Tuesday, June 6th. Finally, Cowen and Company cut their price objective on G-III Apparel Group, LTD. from $27.00 to $22.00 and set a market perform rating for the company in a report on Tuesday, March 28th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $29.67.

Analyst Recommendations for G-III Apparel Group, LTD. (NASDAQ:GIII)

Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) opened at 25.53 on Wednesday. The firm has a market capitalization of $1.24 billion, a P/E ratio of 31.21 and a beta of 0.32. G-III Apparel Group, LTD. has a one year low of $18.00 and a one year high of $51.81. The company’s 50 day moving average price is $22.49 and its 200 day moving average price is $25.26.

G-III Apparel Group, LTD. (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, June 6th. The textile maker reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.22. The business had revenue of $529 million during the quarter, compared to analyst estimates of $497.88 million. G-III Apparel Group, LTD. had a return on equity of 5.57% and a net margin of 1.58%. The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. On average, analysts expect that G-III Apparel Group, LTD. will post $1.27 EPS for the current fiscal year.

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In related news, Director Laura H. Pomerantz sold 2,310 shares of the company’s stock in a transaction on Thursday, April 13th. The stock was sold at an average price of $24.32, for a total transaction of $56,179.20. Following the transaction, the director now directly owns 25,198 shares of the company’s stock, valued at $612,815.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Morris Goldfarb purchased 32,846 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The shares were acquired at an average cost of $22.16 per share, for a total transaction of $727,867.36. Following the completion of the transaction, the chief executive officer now directly owns 3,912,586 shares of the company’s stock, valued at approximately $86,702,905.76. The disclosure for this purchase can be found here. 9.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GIII. Russell Investments Group Ltd. acquired a new position in G-III Apparel Group, LTD. during the fourth quarter valued at $7,101,000. Comerica Bank raised its position in G-III Apparel Group, LTD. by 7.9% in the fourth quarter. Comerica Bank now owns 77,149 shares of the textile maker’s stock valued at $2,090,000 after buying an additional 5,620 shares during the last quarter. State Street Corp raised its position in G-III Apparel Group, LTD. by 5.3% in the fourth quarter. State Street Corp now owns 930,914 shares of the textile maker’s stock valued at $27,521,000 after buying an additional 46,629 shares during the last quarter. Dimensional Fund Advisors LP raised its position in G-III Apparel Group, LTD. by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,536,084 shares of the textile maker’s stock valued at $45,408,000 after buying an additional 122,505 shares during the last quarter. Finally, FMR LLC raised its position in G-III Apparel Group, LTD. by 7.8% in the fourth quarter. FMR LLC now owns 6,842,518 shares of the textile maker’s stock valued at $202,264,000 after buying an additional 494,490 shares during the last quarter. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

About G-III Apparel Group, LTD.

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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