G-III Apparel Group (NASDAQ:GIII)‘s stock had its “buy” rating reaffirmed by research analysts at KeyCorp in a research report issued on Sunday, December 9th. KeyCorp also issued estimates for G-III Apparel Group’s Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $2.75 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $2.09 EPS and Q4 2020 earnings at $0.49 EPS.
Other equities analysts also recently issued reports about the stock. Piper Jaffray Companies set a $51.00 price objective on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, September 6th. Needham & Company LLC set a $56.00 target price on shares of G-III Apparel Group and gave the company a “buy” rating in a research note on Friday, September 7th. Buckingham Research raised their target price on shares of G-III Apparel Group from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, September 7th. BidaskClub cut shares of G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a report on Friday, October 19th. Finally, Cowen set a $45.00 price target on shares of G-III Apparel Group and gave the company a “buy” rating in a report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $47.45.
Shares of GIII traded up $0.11 during trading hours on Friday, reaching $27.89. The stock had a trading volume of 398,898 shares, compared to its average volume of 1,006,202. The stock has a market cap of $1.37 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.67 and a beta of 0.33. The company has a quick ratio of 1.55, a current ratio of 2.54 and a debt-to-equity ratio of 0.59. G-III Apparel Group has a 52 week low of $25.43 and a 52 week high of $51.20.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.07. G-III Apparel Group had a return on equity of 11.60% and a net margin of 3.75%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $1.67 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that G-III Apparel Group will post 2.75 earnings per share for the current fiscal year.
In related news, COO Wayne S. Miller sold 19,448 shares of G-III Apparel Group stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $40.09, for a total value of $779,670.32. Following the transaction, the chief operating officer now directly owns 248,621 shares of the company’s stock, valued at $9,967,215.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.80% of the company’s stock.
Large investors have recently made changes to their positions in the stock. AMP Capital Investors Ltd bought a new position in G-III Apparel Group in the second quarter valued at approximately $266,000. Strategic Wealth Advisors Group LLC bought a new position in G-III Apparel Group in the second quarter valued at approximately $604,000. United Services Automobile Association increased its stake in G-III Apparel Group by 790.0% in the second quarter. United Services Automobile Association now owns 57,069 shares of the textile maker’s stock valued at $2,534,000 after acquiring an additional 50,657 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in G-III Apparel Group in the second quarter valued at approximately $6,226,000. Finally, Bank of Montreal Can boosted its position in G-III Apparel Group by 10.3% in the third quarter. Bank of Montreal Can now owns 45,058 shares of the textile maker’s stock valued at $2,171,000 after buying an additional 4,212 shares in the last quarter.
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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