Piper Jaffray Companies Reiterates $33.00 Price Target for G-III Apparel Group (GIII)

Piper Jaffray Companies set a $33.00 target price on G-III Apparel Group (NASDAQ:GIII) in a report issued on Thursday. The brokerage currently has a buy rating on the textile maker’s stock.

Several other research firms have also issued reports on GIII. Buckingham Research reissued a buy rating and issued a $35.00 price objective (up previously 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 shares of 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. Zacks Investment Research raised shares of 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. Barclays assumed coverage on shares of 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. Finally, FBR & Co reissued a buy rating and issued a $33.00 price objective on shares of G-III Apparel Group in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $33.64.

Shares of G-III Apparel Group (NASDAQ:GIII) traded down $0.48 during mid-day trading on Thursday, reaching $30.32. 779,300 shares of the company traded hands, compared to its average volume of 840,584. G-III Apparel Group has a 1 year low of $18.00 and a 1 year high of $32.59. The firm has a market capitalization of $1,478.35, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 1.49 and a beta of 0.29. The company has a quick ratio of 1.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.56.

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

In other news, Director Alan Feller sold 2,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were 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 in the company, valued at $602,194.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Wayne S. Miller sold 50,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $29.56, for a total transaction of $1,478,000.00. Following the completion of 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. Insiders sold 57,000 shares of company stock valued at $1,682,990 over the last 90 days. Insiders own 9.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in G-III Apparel Group by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 22,875 shares of the textile maker’s stock valued at $571,000 after acquiring an additional 100 shares during the last quarter. Texas Permanent School Fund boosted its stake in G-III Apparel Group by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 31,969 shares of the textile maker’s stock valued at $798,000 after acquiring an additional 275 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake 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 valued at $258,000 after acquiring an additional 330 shares during the last quarter. HighTower Advisors LLC boosted its stake in G-III Apparel Group by 2.3% during the 2nd quarter. HighTower Advisors LLC now owns 18,197 shares of the textile maker’s stock valued at $450,000 after acquiring an additional 408 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in G-III Apparel Group by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,030 shares of the textile maker’s stock valued at $849,000 after acquiring an additional 438 shares during the last quarter.

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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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