G-III Apparel Group (NASDAQ:GIII) Coverage Initiated by Analysts at Guggenheim

Stock analysts at Guggenheim started coverage on shares of G-III Apparel Group (NASDAQ:GIII) in a report issued on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $36.00 price target on the textile maker’s stock. Guggenheim’s price objective indicates a potential upside of 21.58% from the company’s current price.

Several other research firms have also weighed in on GIII. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. KeyCorp boosted their target price on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Barclays boosted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Finally, StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and an average price target of $30.00.

G-III Apparel Group Trading Down 0.2 %

NASDAQ GIII opened at $29.61 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $35.68. The firm has a market capitalization of $1.33 billion, a PE ratio of 7.75 and a beta of 2.19. The stock’s 50 day moving average is $28.03 and its 200 day moving average is $27.80.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. Research analysts forecast that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group during the second quarter valued at $42,000. CWM LLC increased its position in G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in G-III Apparel Group during the second quarter valued at $78,000. Innealta Capital LLC purchased a new stake in G-III Apparel Group during the second quarter valued at $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in G-III Apparel Group during the first quarter valued at $171,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.