Natixis Takes Position in G-III Apparel Group, Ltd. (GIII)
Natixis acquired a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,518 shares of the textile maker’s stock, valued at approximately $2,731,000. Natixis owned about 0.13% of G-III Apparel Group as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. ClariVest Asset Management LLC bought a new stake in G-III Apparel Group in the second quarter valued at about $6,226,000. Cornerstone Wealth Management LLC bought a new stake in G-III Apparel Group in the second quarter valued at about $1,157,000. Brown Advisory Inc. bought a new stake in G-III Apparel Group in the first quarter valued at about $264,000. Rhumbline Advisers increased its holdings in G-III Apparel Group by 1.6% in the second quarter. Rhumbline Advisers now owns 104,704 shares of the textile maker’s stock valued at $4,649,000 after buying an additional 1,677 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in G-III Apparel Group by 24.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,601 shares of the textile maker’s stock valued at $1,078,000 after buying an additional 5,676 shares during the last quarter.
Several brokerages recently weighed in on GIII. Piper Jaffray Companies boosted their price objective on G-III Apparel Group to $54.00 and gave the company an “overweight” rating in a report on Tuesday. TheStreet raised G-III Apparel Group from a “c+” rating to a “b-” rating in a report on Tuesday, June 26th. BidaskClub downgraded G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 3rd. Needham & Company LLC set a $56.00 target price on G-III Apparel Group and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Telsey Advisory Group lifted their target price on G-III Apparel Group from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, June 1st. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. G-III Apparel Group currently has an average rating of “Buy” and a consensus price target of $52.18.
GIII opened at $46.95 on Tuesday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.20 and a beta of 0.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.12 and a quick ratio of 0.99. G-III Apparel Group, Ltd. has a 1-year low of $23.19 and a 1-year high of $51.20.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 6th. The textile maker reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.19. The firm had revenue of $624.70 million during the quarter, compared to the consensus estimate of $590.16 million. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) earnings per share. analysts predict that G-III Apparel Group, Ltd. will post 2.61 EPS for the current fiscal year.
G-III Apparel Group Profile
G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.
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