G-III Apparel Group (NASDAQ:GIII) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.17-0.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.28. The company issued revenue guidance of ~$624.7 million, compared to the consensus revenue estimate of $664.41 million.G-III Apparel Group also updated its FY 2020 guidance to $3.25-3.35 EPS.
Several research firms have recently issued reports on GIII. BidaskClub cut G-III Apparel Group from a hold rating to a sell rating in a report on Wednesday, May 22nd. TheStreet lowered G-III Apparel Group from a b- rating to a c+ rating in a research report on Wednesday, June 5th. ValuEngine lowered G-III Apparel Group from a hold rating to a sell rating in a research report on Monday, May 13th. Zacks Investment Research lowered G-III Apparel Group from a strong-buy rating to a hold rating in a research report on Tuesday, May 21st. Finally, KeyCorp cut their target price on G-III Apparel Group from $52.00 to $45.00 and set an overweight rating on the stock in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. G-III Apparel Group currently has a consensus rating of Buy and a consensus price target of $41.70.
NASDAQ:GIII traded up $0.85 during mid-day trading on Friday, hitting $29.42. The company had a trading volume of 827,855 shares, compared to its average volume of 630,522. G-III Apparel Group has a 1 year low of $23.34 and a 1 year high of $50.83. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 0.81 and a beta of 1.37. 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 business has a fifty day simple moving average of $28.47.
In related news, Director Laura H. Pomerantz sold 821 shares of G-III Apparel Group stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $40.43, for a total value of $33,193.03. Following the completion of the transaction, the director now directly owns 39,682 shares in the company, valued at $1,604,343.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Sammy Aaron sold 71,766 shares of G-III Apparel Group stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $41.33, for a total value of $2,966,088.78. Following the completion of the transaction, the insider now owns 434,969 shares of the company’s stock, valued at $17,977,268.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,692 shares of company stock worth $3,086,681. Corporate insiders own 8.60% of the company’s stock.
About G-III Apparel Group
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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