G-III Apparel Group (GIII) Receives Hold Rating from Barclays
A number of other brokerages have also recently issued reports on GIII. Piper Jaffray Companies set a $54.00 target price on G-III Apparel Group and gave the stock a buy rating in a report on Tuesday, September 18th. Needham & Company LLC set a $56.00 target price on G-III Apparel Group and gave the stock a buy rating in a report on Friday, September 7th. Buckingham Research upped their target price on G-III Apparel Group from $55.00 to $57.00 and gave the stock a buy rating in a report on Friday, September 7th. Cowen upped their target price on G-III Apparel Group from $54.00 to $55.00 and gave the stock an outperform rating in a report on Thursday, September 6th. Finally, BidaskClub raised G-III Apparel Group from a buy rating to a strong-buy rating in a report on Saturday, August 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $47.91.
Shares of GIII opened at $30.92 on Friday. G-III Apparel Group has a 12-month low of $30.36 and a 12-month high of $51.20. The company has a quick ratio of 1.55, a current ratio of 2.54 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.79 and a beta of 0.33.
In other G-III Apparel Group news, COO Wayne S. Miller sold 19,448 shares of the company’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the sale, the chief operating officer now owns 248,621 shares in the company, valued at approximately $9,967,215.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIII. Rothschild & Co. Asset Management US Inc. bought a new stake in shares of G-III Apparel Group in the 3rd quarter valued at about $28,845,000. FMR LLC grew its position in shares of G-III Apparel Group by 20.1% in the 3rd quarter. FMR LLC now owns 3,239,941 shares of the textile maker’s stock valued at $156,132,000 after buying an additional 543,174 shares during the last quarter. Jennison Associates LLC grew its position in shares of G-III Apparel Group by 191.4% in the 3rd quarter. Jennison Associates LLC now owns 791,197 shares of the textile maker’s stock valued at $38,128,000 after buying an additional 519,672 shares during the last quarter. Copper Rock Capital Partners LLC bought a new stake in shares of G-III Apparel Group in the 3rd quarter valued at about $24,060,000. Finally, Vanguard Group Inc. grew its position in shares of G-III Apparel Group by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,346,116 shares of the textile maker’s stock valued at $209,439,000 after buying an additional 426,960 shares during 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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