BidaskClub cut shares of G-III Apparel Group (NASDAQ:GIII) from a strong-buy rating to a buy rating in a research note published on Friday morning.

A number of other analysts have also recently issued reports on the company. ValuEngine cut G-III Apparel Group from a buy rating to a hold rating in a research report on Friday, September 7th. Piper Jaffray Companies set a $54.00 target price on G-III Apparel Group and gave the company a buy rating in a research report on Tuesday, September 18th. Needham & Company LLC set a $56.00 target price on G-III Apparel Group and gave the company a buy rating in a research report on Friday, September 7th. Cowen upped their target price on G-III Apparel Group from $54.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, September 6th. Finally, Buckingham Research upped their target price on G-III Apparel Group from $55.00 to $57.00 and gave the company a buy rating in a research report on Friday, September 7th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $50.64.

Shares of NASDAQ GIII traded down $2.02 during trading hours on Friday, reaching $35.54. The stock had a trading volume of 1,086,626 shares, compared to its average volume of 703,387. The stock has a market cap of $1.85 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 0.96 and a beta of 0.08. The company has a quick ratio of 0.99, a current ratio of 2.12 and a debt-to-equity ratio of 0.45. G-III Apparel Group has a fifty-two week low of $23.19 and a fifty-two week high of $51.20.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 6th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.19. The firm had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $590.16 million. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. Sell-side analysts anticipate that G-III Apparel Group will post 2.61 earnings per share for the current year.

In other G-III Apparel Group news, COO Wayne S. Miller sold 19,448 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $40.09, for a total transaction of $779,670.32. Following the completion of the sale, the chief operating officer now directly owns 248,621 shares of the company’s stock, valued at approximately $9,967,215.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new stake in G-III Apparel Group during the 2nd quarter valued at approximately $193,000. Everence Capital Management Inc. purchased a new stake in G-III Apparel Group during the 2nd quarter valued at approximately $227,000. AMP Capital Investors Ltd purchased a new stake in G-III Apparel Group during the 2nd quarter valued at approximately $266,000. First Hawaiian Bank purchased a new stake in G-III Apparel Group during the 3rd quarter valued at approximately $299,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in G-III Apparel Group during the 1st quarter valued at approximately $246,000.

About G-III Apparel Group

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

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