G-III Apparel Group (NASDAQ:GIII) had its price target cut by B. Riley from $47.00 to $37.00 in a research note published on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the textile maker’s stock.

Several other equities research analysts have also recently weighed in on the stock. Bank of America lowered their price target on shares of G-III Apparel Group from $43.00 to $35.00 and set a buy rating for the company in a research report on Thursday, June 6th. ValuEngine cut shares of G-III Apparel Group from a hold rating to a sell rating in a research report on Monday, May 13th. Piper Jaffray Companies cut shares of G-III Apparel Group from an overweight rating to a neutral rating and lowered their price target for the stock from $43.00 to $35.00 in a research report on Tuesday, May 14th. Telsey Advisory Group reaffirmed an outperform rating and issued a $34.00 price target (down previously from $47.00) on shares of G-III Apparel Group in a research report on Thursday, June 6th. Finally, TheStreet cut shares of G-III Apparel Group from a b- rating to a c+ rating in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. G-III Apparel Group presently has a consensus rating of Hold and a consensus price target of $39.40.

G-III Apparel Group stock opened at $21.18 on Monday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 0.61 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. G-III Apparel Group has a 1 year low of $19.89 and a 1 year high of $50.83. The firm has a 50-day moving average of $26.11 and a two-hundred day moving average of $32.59.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Wednesday, June 5th. The textile maker reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. The firm had revenue of $633.60 million during the quarter, compared to analysts’ expectations of $650.03 million. During the same quarter in the prior year, the company earned $0.22 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. Research analysts expect that G-III Apparel Group will post 3.26 earnings per share for the current year.

In other news, CEO Morris Goldfarb acquired 40,000 shares of G-III Apparel Group stock in a transaction that occurred on Thursday, July 11th. The stock was purchased at an average price of $26.47 per share, for a total transaction of $1,058,800.00. Following the purchase, the chief executive officer now directly owns 3,250,483 shares in the company, valued at approximately $86,040,285.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of GIII. FTB Advisors Inc. acquired a new position in G-III Apparel Group during the 2nd quarter valued at approximately $27,000. CenterStar Asset Management LLC acquired a new position in G-III Apparel Group during the 1st quarter valued at approximately $105,000. Price Wealth Management Inc. acquired a new position in G-III Apparel Group during the 2nd quarter valued at approximately $113,000. Glen Harbor Capital Management LLC increased its stake in G-III Apparel Group by 14.7% during the 2nd 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. Finally, Riverhead Capital Management LLC increased its stake in G-III Apparel Group by 15.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,131 shares of the textile maker’s stock valued at $151,000 after purchasing an additional 700 shares in the last quarter.

G-III Apparel Group Company Profile

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

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