G-III Apparel Group (GIII) PT Set at $32.00 by Cowen

Cowen set a $32.00 price objective on G-III Apparel Group (NASDAQ:GIII) in a research report report published on Thursday morning. The brokerage currently has a hold rating on the textile maker’s stock.

Several other brokerages have also weighed in on GIII. Buckingham Research reiterated a buy rating and issued a $35.00 price objective (up from $30.00) on shares of G-III Apparel Group in a research report on Thursday, September 7th. Stifel Nicolaus increased their price objective on G-III Apparel Group from $20.00 to $28.00 and gave the stock a hold rating in a research report on Thursday, September 7th. 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. Zacks Investment Research upgraded G-III Apparel Group from a hold rating to a buy rating and set a $34.00 price objective for the company in a research report on Saturday, September 9th. Finally, Barclays began coverage on G-III Apparel Group in a research report on Tuesday, September 19th. They issued an underweight rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. G-III Apparel Group presently has a consensus rating of Buy and an average target price of $33.64.

G-III Apparel Group (NASDAQ:GIII) opened at $30.32 on Thursday. G-III Apparel Group has a fifty-two week low of $18.00 and a fifty-two week high of $32.59. The company has a market capitalization of $1,478.35, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.29. The company has a current ratio of 2.75, a quick ratio of 1.09 and a debt-to-equity ratio of 0.56.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Wednesday, September 6th. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The business had revenue of $538.00 million during the quarter, compared to analyst estimates of $522.45 million. G-III Apparel Group had a return on equity of 4.65% and a net margin of 1.23%. The business’s revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. equities research analysts expect that G-III Apparel Group will post 1.36 EPS for the current fiscal year.

In other news, Director Alan Feller sold 5,000 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $29.31, for a total transaction of $146,550.00. Following the completion of the transaction, the director now directly owns 20,609 shares in the company, valued at $604,049.79. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Wayne S. Miller sold 50,000 shares of the firm’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 owns 269,531 shares of the company’s stock, valued at $7,967,336.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,000 shares of company stock valued at $1,682,990. Company insiders own 9.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System raised its stake in shares of G-III Apparel Group by 11.9% in the third quarter. California Public Employees Retirement System now owns 97,244 shares of the textile maker’s stock valued at $2,822,000 after acquiring an additional 10,344 shares in the last quarter. Zions Bancorporation acquired a new stake in shares of G-III Apparel Group in the third quarter valued at $151,000. Jane Street Group LLC acquired a new stake in shares of G-III Apparel Group in the third quarter valued at $236,000. Engineers Gate Manager LP acquired a new stake in shares of G-III Apparel Group in the third quarter valued at $1,011,000. Finally, Invictus RG acquired a new stake in shares of G-III Apparel Group in the third quarter valued at $185,000.

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About G-III Apparel Group

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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