B. Riley Initiates Coverage on G-III Apparel Group (NASDAQ:GIII)

B. Riley began coverage on shares of G-III Apparel Group (NASDAQ:GIII) in a report issued on Wednesday morning, TipRanks reports. The brokerage issued a buy rating and a $33.00 target price on the textile maker’s stock. B. Riley also issued estimates for G-III Apparel Group’s Q4 2020 earnings at $0.70 EPS, FY2020 earnings at $3.13 EPS, Q1 2021 earnings at $0.18 EPS, Q2 2021 earnings at $0.18 EPS, Q3 2021 earnings at $1.91 EPS, Q4 2021 earnings at $0.72 EPS and FY2021 earnings at $2.98 EPS.

Several other analysts have also issued reports on GIII. Zacks Investment Research upgraded shares of G-III Apparel Group from a sell rating to a hold rating and set a $30.00 price target on the stock in a research note on Wednesday, November 6th. ValuEngine raised shares of G-III Apparel Group from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Wells Fargo & Co assumed coverage on shares of G-III Apparel Group in a research note on Monday, September 23rd. They issued a market perform rating and a $26.00 price objective for the company. KeyCorp lowered their target price on shares of G-III Apparel Group from $45.00 to $40.00 and set an overweight rating on the stock in a report on Thursday. Finally, Stifel Nicolaus restated a hold rating and set a $26.00 target price (up previously from $22.00) on shares of G-III Apparel Group in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $29.27.

Shares of GIII opened at $28.89 on Wednesday. G-III Apparel Group has a fifty-two week low of $18.18 and a fifty-two week high of $43.98. The business has a 50-day moving average of $27.79 and a 200 day moving average of $26.19. The firm has a market cap of $1.38 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 2.08.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, December 4th. The textile maker reported $1.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.05. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.37%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. As a group, research analysts predict that G-III Apparel Group will post 3.19 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in G-III Apparel Group by 45.9% during the 2nd quarter. Victory Capital Management Inc. now owns 2,266,955 shares of the textile maker’s stock worth $66,694,000 after acquiring an additional 713,195 shares during the period. BlackRock Inc. boosted its holdings in G-III Apparel Group by 9.6% in the 2nd quarter. BlackRock Inc. now owns 6,841,163 shares of the textile maker’s stock valued at $201,268,000 after purchasing an additional 599,647 shares during the period. Nuveen Asset Management LLC boosted its holdings in G-III Apparel Group by 46.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,181,061 shares of the textile maker’s stock valued at $34,747,000 after purchasing an additional 373,781 shares during the period. Chartwell Investment Partners LLC purchased a new position in shares of G-III Apparel Group during the 2nd quarter valued at $10,429,000. Finally, Millennium Management LLC grew its position in shares of G-III Apparel Group by 228.3% during the 3rd quarter. Millennium Management LLC now owns 429,737 shares of the textile maker’s stock valued at $11,074,000 after purchasing an additional 298,827 shares in the last quarter. Institutional investors own 99.74% of the company’s stock.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, 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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Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

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