G-III Apparel Group (GIII) Given a $32.00 Price Target at Cowen
G-III Apparel Group (NASDAQ:GIII) received a $32.00 price target from analysts at Cowen in a research report issued to clients and investors on Thursday. The brokerage currently has a “hold” rating on the textile maker’s stock. Cowen’s price objective points to a potential upside of 5.54% from the company’s previous close.
Several other equities analysts also recently commented on GIII. Zacks Investment Research downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Telsey Advisory Group raised shares of G-III Apparel Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $27.00 to $36.00 in a research note on Wednesday, September 6th. KeyCorp reiterated a “buy” rating and set a $41.00 price objective on shares of G-III Apparel Group in a research report on Thursday, August 24th. Piper Jaffray Companies set a $33.00 price objective on shares of G-III Apparel Group and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Buckingham Research raised their price target on shares of G-III Apparel Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. G-III Apparel Group has a consensus rating of “Buy” and an average target price of $33.64.
Shares of G-III Apparel Group (NASDAQ:GIII) traded down $0.48 during mid-day trading on Thursday, hitting $30.32. 779,328 shares of the stock were exchanged, compared to its average volume of 840,584. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 2.75. The company has a market cap of $1,480.00, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.41 and a beta of 0.21. G-III Apparel Group has a 12 month low of $18.00 and a 12 month high of $32.59.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Wednesday, September 6th. The textile maker reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.11. G-III Apparel Group had a net margin of 1.23% and a return on equity of 4.65%. The business had revenue of $538.00 million for the quarter, compared to analyst estimates of $522.45 million. During the same quarter in the prior year, the business earned $0.01 EPS. G-III Apparel Group’s quarterly revenue was up 21.6% on a year-over-year basis. research analysts anticipate that G-III Apparel Group will post 1.36 EPS for the current fiscal year.
In other news, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $29.56, for a total value of $1,478,000.00. Following the sale, the chief operating officer now owns 269,531 shares of the company’s stock, valued at $7,967,336.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alan Feller sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $29.22, for a total transaction of $58,440.00. Following the completion of the sale, the director now directly owns 20,609 shares in the company, valued at approximately $602,194.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,000 shares of company stock worth $1,682,990. Insiders own 9.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in G-III Apparel Group by 74.7% during the second quarter. Bank of New York Mellon Corp now owns 5,574,206 shares of the textile maker’s stock valued at $139,077,000 after acquiring an additional 2,383,043 shares in the last quarter. Columbus Circle Investors purchased a new position in G-III Apparel Group during the third quarter valued at approximately $30,233,000. Victory Capital Management Inc. purchased a new position in G-III Apparel Group during the second quarter valued at approximately $23,202,000. Dimensional Fund Advisors LP grew its stake in G-III Apparel Group by 45.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock valued at $72,478,000 after acquiring an additional 907,701 shares in the last quarter. Finally, Phocas Financial Corp. purchased a new position in G-III Apparel Group during the second quarter valued at approximately $13,037,000.
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G-III Apparel Group Company Profile
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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