A number of other research firms have also recently weighed in on GIII. Zacks Investment Research cut shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Piper Jaffray Companies cut shares of G-III Apparel Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $35.00 in a research note on Tuesday, May 14th. ValuEngine cut shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of G-III Apparel Group in a report on Friday, March 22nd. Finally, Bank of America assumed coverage on shares of G-III Apparel Group in a report on Friday, March 1st. They set a “buy” rating and a $45.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.70.
GIII stock traded up $0.31 during mid-day trading on Wednesday, hitting $25.70. 866,300 shares of the company were exchanged, compared to its average volume of 589,189. The company has a quick ratio of 1.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.21 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 0.71 and a beta of 1.37. G-III Apparel Group has a 1-year low of $23.34 and a 1-year high of $50.83.
In other news, Vice Chairman Sammy Aaron sold 71,766 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $41.33, for a total transaction of $2,966,088.78. Following the sale, the insider now owns 434,969 shares in the company, valued at approximately $17,977,268.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura H. Pomerantz sold 821 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total transaction of $33,193.03. Following the transaction, the director now directly owns 39,682 shares in the company, valued at approximately $1,604,343.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,692 shares of company stock worth $3,086,681. Corporate insiders own 8.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GIII. JPMorgan Chase & Co. grew its position in G-III Apparel Group by 534.6% during the third quarter. JPMorgan Chase & Co. now owns 79,624 shares of the textile maker’s stock valued at $3,837,000 after buying an additional 67,077 shares during the period. Federated Investors Inc. PA bought a new position in shares of G-III Apparel Group in the third quarter worth approximately $4,689,000. Meeder Asset Management Inc. boosted its position in shares of G-III Apparel Group by 1,396.0% in the fourth quarter. Meeder Asset Management Inc. now owns 1,511 shares of the textile maker’s stock worth $41,000 after purchasing an additional 1,410 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of G-III Apparel Group by 5.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 201,500 shares of the textile maker’s stock worth $5,620,000 after purchasing an additional 10,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of G-III Apparel Group by 19.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,795 shares of the textile maker’s stock worth $78,000 after purchasing an additional 461 shares during the period.
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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