G-III Apparel Group (NASDAQ:GIII) Research Coverage Started at Guggenheim

Guggenheim initiated coverage on shares of G-III Apparel Group (NASDAQ:GIII) in a research note published on Wednesday, MarketBeat reports. The firm issued a buy rating and a $36.00 price target on the textile maker’s stock.

Other analysts also recently issued research reports about the stock. Barclays boosted their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an underweight rating in a report on Friday, September 6th. Telsey Advisory Group reissued a market perform rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. StockNews.com raised shares of G-III Apparel Group from a hold rating to a buy rating in a report on Thursday, October 3rd. Finally, KeyCorp boosted their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an overweight rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $30.00.

G-III Apparel Group Stock Up 0.3 %

Shares of NASDAQ:GIII opened at $30.45 on Wednesday. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 7.97 and a beta of 2.19. The firm’s 50-day simple moving average is $28.27 and its 200-day simple moving average is $27.86. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.25. The business had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. As a group, equities research analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 12.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIII. Wedge Capital Management L L P NC acquired a new position in shares of G-III Apparel Group in the third quarter valued at approximately $1,176,000. Exchange Traded Concepts LLC raised its position in shares of G-III Apparel Group by 234.8% in the third quarter. Exchange Traded Concepts LLC now owns 41,610 shares of the textile maker’s stock valued at $1,270,000 after buying an additional 29,181 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of G-III Apparel Group in the third quarter valued at approximately $1,052,000. CWM LLC raised its position in shares of G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after buying an additional 885 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of G-III Apparel Group in the second quarter valued at approximately $78,000. Institutional investors and hedge funds own 92.13% 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 through 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.