G-III Apparel Group (GIII) Given a $50.00 Price Target by Piper Jaffray Companies Analysts
G-III Apparel Group (NASDAQ:GIII) has been assigned a $50.00 price objective by research analysts at Piper Jaffray Companies in a research report issued on Thursday. The brokerage presently has a “buy” rating on the textile maker’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 52.21% from the company’s previous close. Piper Jaffray Companies also issued estimates for G-III Apparel Group’s Q3 2019 earnings at $1.88 EPS, Q4 2019 earnings at $0.46 EPS, FY2019 earnings at $2.75 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.24 EPS, Q3 2020 earnings at $2.10 EPS, Q4 2020 earnings at $0.52 EPS, FY2020 earnings at $3.10 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.32 EPS and Q3 2021 earnings at $2.27 EPS.
Several other research firms have also recently commented on GIII. BidaskClub upgraded shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 11th. Buckingham Research boosted their price target on shares of G-III Apparel Group from $55.00 to $57.00 and gave the company a “buy” rating in a report on Friday, September 7th. ValuEngine cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Cowen set a $45.00 price objective on shares of G-III Apparel Group and gave the company a “buy” rating in a research note on Thursday, October 18th. Finally, Needham & Company LLC set a $56.00 price objective on shares of G-III Apparel Group and gave the company a “buy” rating in a research note on Friday, September 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $47.91.
G-III Apparel Group stock opened at $32.85 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 2.12. G-III Apparel Group has a 12 month low of $30.36 and a 12 month high of $51.20. The firm has a market cap of $1.72 billion, a PE ratio of 13.53, a P/E/G ratio of 0.85 and a beta of 0.33.
In related news, COO Wayne S. Miller sold 19,448 shares of G-III Apparel Group stock in a transaction 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 completion of the sale, the chief operating officer now 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 the SEC website. 9.80% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GIII. Group One Trading L.P. lifted its stake in shares of G-III Apparel Group by 118.7% in the 3rd quarter. Group One Trading L.P. now owns 3,103 shares of the textile maker’s stock valued at $150,000 after purchasing an additional 1,684 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of G-III Apparel Group in the 3rd quarter valued at $188,000. Acadian Asset Management LLC acquired a new position in G-III Apparel Group during the 2nd quarter worth $193,000. AMP Capital Investors Ltd acquired a new position in G-III Apparel Group during the 2nd quarter worth $266,000. Finally, Pitcairn Co. acquired a new position in G-III Apparel Group during the 3rd quarter worth $292,000.
G-III Apparel Group Company Profile
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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