G-III Apparel Group (GIII) Upgraded to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a strong-buy rating in a report released on Thursday. Zacks Investment Research currently has $40.00 target price on the textile maker’s stock.
According to Zacks, “G-III is a leading manufacturer and distributor of apparel and accessories under licensed brands, owned brands and private label brands. G-III’s owned brands include Donna Karan, DKNY, Vilebrequin, G. H. Bass, Andrew Marc, Marc New York, Eliza J and Jessica Howard. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Ivanka Trump, Kensie, Jessica Simpson, Levi’s and Dockers brands. Through team sports business, G-III has licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Hands High, Touch by Alyssa Milano. G-III also operates retail stores under the DKNY, Wilsons Leather, G. H. Bass, Vilebrequin, Calvin Klein Performance and Karl Lagerfeld Paris names. “
GIII has been the topic of a number of other research reports. Piper Jaffray Companies set a $33.00 price objective on G-III Apparel Group and gave the stock a buy rating in a research report on Thursday, October 19th. Telsey Advisory Group raised G-III Apparel Group from a market perform rating to an outperform rating and raised their target price for the stock from $27.00 to $36.00 in a research note on Wednesday, September 6th. Cowen set a $23.00 target price on G-III Apparel Group and gave the stock a hold rating in a research note on Monday, August 14th. Buckingham Research raised their target price on G-III Apparel Group from $28.00 to $30.00 and gave the stock a buy rating in a research note on Thursday, August 31st. Finally, ValuEngine raised G-III Apparel Group from a sell rating to a hold rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $34.73.
Shares of G-III Apparel Group (NASDAQ GIII) traded up $0.07 during trading on Thursday, reaching $34.84. The company had a trading volume of 546,576 shares, compared to its average volume of 859,486. G-III Apparel Group has a 52-week low of $18.00 and a 52-week high of $35.95. The stock has a market capitalization of $1,709.95, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.56 and a beta of 0.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 2.75.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 5th. The textile maker reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.13. G-III Apparel Group had a return on equity of 5.77% and a net margin of 1.58%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.50 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. equities analysts predict that G-III Apparel Group will post 1.5 EPS for the current fiscal year.
In related news, Director Alan Feller sold 2,000 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $29.22, for a total transaction of $58,440.00. Following the completion of the transaction, the director now directly owns 20,609 shares of the company’s stock, valued at approximately $602,194.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $29.56, for a total value of $1,478,000.00. Following the transaction, the chief operating officer now directly owns 269,531 shares of the company’s stock, valued at $7,967,336.36. The disclosure for this sale can be found here. Insiders sold 57,000 shares of company stock valued at $1,682,990 over the last ninety days. Insiders own 9.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GIII. Teachers Advisors LLC lifted its holdings in G-III Apparel Group by 7.8% during the 1st quarter. Teachers Advisors LLC now owns 76,457 shares of the textile maker’s stock worth $1,674,000 after buying an additional 5,560 shares during the last quarter. UBS Group AG lifted its holdings in G-III Apparel Group by 85.7% during the 1st quarter. UBS Group AG now owns 5,850 shares of the textile maker’s stock worth $128,000 after buying an additional 2,699 shares during the last quarter. State Street Corp lifted its holdings in G-III Apparel Group by 6.6% during the 1st quarter. State Street Corp now owns 992,480 shares of the textile maker’s stock worth $21,722,000 after buying an additional 61,566 shares during the last quarter. Aperio Group LLC purchased a new stake in G-III Apparel Group during the 2nd quarter worth about $204,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in G-III Apparel Group by 3.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,330 shares of the textile maker’s stock worth $258,000 after buying an additional 330 shares during the last quarter.
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G-III Apparel Group Company Profile
G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.
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