G-III Apparel Group (GIII) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a buy rating in a report issued on Friday.

Several other brokerages have also weighed in on GIII. Zacks Investment Research lowered G-III Apparel Group from a buy rating to a hold rating in a report on Wednesday, November 8th. Piper Jaffray Companies set a $33.00 price objective on G-III Apparel Group and gave the company a buy rating in a report on Thursday, October 19th. Buckingham Research increased their price objective on G-III Apparel Group from $28.00 to $30.00 and gave the company a buy rating in a report on Thursday, August 31st. Telsey Advisory Group raised G-III Apparel Group from a market perform rating to an outperform rating and increased their price objective for the company from $27.00 to $36.00 in a report on Wednesday, September 6th. Finally, ValuEngine raised G-III Apparel Group from a sell rating to a hold rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. G-III Apparel Group presently has a consensus rating of Buy and an average target price of $34.83.

Shares of G-III Apparel Group (GIII) traded down $0.09 on Friday, hitting $37.07. The company had a trading volume of 576,098 shares, compared to its average volume of 1,017,158. The company has a quick ratio of 1.91, a current ratio of 3.52 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1,823.85, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 1.66 and a beta of 0.29. G-III Apparel Group has a one year low of $18.00 and a one year high of $37.39.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Tuesday, December 5th. The textile maker reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.13. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. G-III Apparel Group had a return on equity of 5.65% and a net margin of 1.58%. G-III Apparel Group’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $1.50 earnings per share. sell-side analysts anticipate that G-III Apparel Group will post 1.5 EPS for the current year.

In other news, Director Alan Feller sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $29.22, for a total value 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 $602,194.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Sammy Aaron sold 51,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $33.62, for a total value of $1,714,620.00. Following the completion of the transaction, the insider now directly owns 556,152 shares of the company’s stock, valued at $18,697,830.24. The disclosure for this sale can be found here. Insiders sold 58,000 shares of company stock valued at $1,919,610 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of GIII. Columbus Circle Investors bought a new position in shares of G-III Apparel Group in the third quarter worth $30,233,000. Victory Capital Management Inc. bought a new stake in G-III Apparel Group during the second quarter valued at $23,202,000. Dimensional Fund Advisors LP boosted its stake in G-III Apparel Group by 45.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock valued at $72,478,000 after buying an additional 907,701 shares during the period. Phocas Financial Corp. bought a new stake in G-III Apparel Group during the second quarter valued at $13,037,000. Finally, Cramer Rosenthal Mcglynn LLC boosted its stake in G-III Apparel Group by 26.7% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 1,816,332 shares of the textile maker’s stock valued at $45,317,000 after buying an additional 382,482 shares during the period.

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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.

Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

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