G-III Apparel Group, Ltd. (NASDAQ:GIII)’s stock price fell 5.6% during trading on Thursday . The company traded as low as $20.53 and last traded at $20.00, 447,343 shares traded hands during trading. A decline of 33% from the average session volume of 662,774 shares. The stock had previously closed at $21.17.

A number of brokerages have recently commented on GIII. Needham & Company LLC set a $47.00 price target on shares of G-III Apparel Group and gave the stock a “buy” rating in a report on Thursday, June 6th. Telsey Advisory Group restated an “outperform” rating and issued a $34.00 target price (down previously from $47.00) on shares of G-III Apparel Group in a report on Thursday, June 6th. ValuEngine lowered shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Piper Jaffray Companies lowered shares of G-III Apparel Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $43.00 to $35.00 in a report on Tuesday, May 14th. Finally, Bank of America dropped their target price on shares of G-III Apparel Group from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.70.

The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.39. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.17 and a quick ratio of 1.17. The firm’s fifty day moving average is $27.05 and its 200-day moving average is $32.96.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Wednesday, June 5th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. The business had revenue of $633.60 million for the quarter, compared to analyst estimates of $650.03 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. G-III Apparel Group’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. As a group, equities research analysts anticipate that G-III Apparel Group, Ltd. will post 3.27 EPS for the current year.

In related news, CEO Morris Goldfarb purchased 40,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was purchased at an average cost of $26.47 per share, with a total value of $1,058,800.00. Following the completion of the purchase, the chief executive officer now owns 3,250,483 shares in the company, valued at approximately $86,040,285.01. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. FTB Advisors Inc. bought a new stake in G-III Apparel Group in the second quarter valued at $27,000. CenterStar Asset Management LLC bought a new stake in G-III Apparel Group in the first quarter valued at $105,000. Price Wealth Management Inc. bought a new stake in G-III Apparel Group in the second quarter valued at $113,000. Nvwm LLC increased its stake in G-III Apparel Group by 9.9% in the first quarter. Nvwm LLC now owns 4,276 shares of the textile maker’s stock valued at $171,000 after purchasing an additional 384 shares in the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in G-III Apparel Group by 14.7% in the second quarter. Glen Harbor Capital Management LLC now owns 4,608 shares of the textile maker’s stock valued at $136,000 after purchasing an additional 592 shares in the last quarter.

G-III Apparel Group Company Profile (NASDAQ:GIII)

G-III Apparel Group, Ltd. designs, sources, 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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