G-III Apparel Group (GIII) Trading Up 7.1%

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G-III Apparel Group, Ltd. (NASDAQ:GIII) shares were up 7.1% during mid-day trading on Tuesday . The company traded as high as $39.92 and last traded at $39.84. Approximately 744,000 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 646,241 shares. The stock had previously closed at $37.21.

A number of research analysts have recently issued reports on GIII shares. ValuEngine downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Buckingham Research dropped their price objective on G-III Apparel Group from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. Piper Jaffray Companies set a $51.00 price objective on G-III Apparel Group and gave the company a “buy” rating in a research note on Thursday, September 6th. Needham & Company LLC set a $56.00 price objective on G-III Apparel Group and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Barclays boosted their price objective on G-III Apparel Group from $46.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, September 7th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $50.64.

The stock has a market cap of $1.84 billion, a P/E ratio of 15.70, a PEG ratio of 0.95 and a beta of 0.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.12 and a quick ratio of 0.99.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 6th. The textile maker reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.19. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The business had revenue of $624.70 million during the quarter, compared to analyst estimates of $590.16 million. During the same period in the previous year, the company posted ($0.15) EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. Equities analysts predict that G-III Apparel Group, Ltd. will post 2.61 EPS for the current year.

In related news, COO Wayne S. Miller sold 19,448 shares of the business’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the completion of the sale, the chief operating officer now directly owns 248,621 shares of the company’s stock, valued at approximately $9,967,215.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. AMP Capital Investors Ltd bought a new stake in G-III Apparel Group during the 2nd quarter worth approximately $266,000. Strategic Wealth Advisors Group LLC bought a new stake in G-III Apparel Group during the 2nd quarter worth approximately $604,000. ClariVest Asset Management LLC bought a new stake in G-III Apparel Group during the 2nd quarter worth approximately $6,226,000. First Trust Advisors LP increased its holdings in G-III Apparel Group by 17.6% during the 2nd quarter. First Trust Advisors LP now owns 25,632 shares of the textile maker’s stock worth $1,138,000 after purchasing an additional 3,829 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in G-III Apparel Group by 1.6% during the 2nd quarter. Rhumbline Advisers now owns 104,704 shares of the textile maker’s stock worth $4,649,000 after purchasing an additional 1,677 shares in the last quarter.

G-III Apparel Group Company Profile (NASDAQ:GIII)

G-III Apparel Group, Ltd. designs, manufactures, 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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