G-III Apparel Group (NASDAQ:GIII) Trading Up 6.3%

G-III Apparel Group, Ltd. (NASDAQ:GIII)’s share price was up 6.3% during mid-day trading on Thursday . The company traded as high as $13.93 and last traded at $13.93. Approximately 768,860 shares changed hands during trading, a decline of 38% from the average daily volume of 1,249,350 shares. The stock had previously closed at $13.11.

A number of research analysts have issued reports on GIII shares. ValuEngine upgraded shares of G-III Apparel Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 12th. B. Riley lowered their price target on G-III Apparel Group from $25.00 to $23.00 in a research note on Thursday, September 10th. Wells Fargo & Company cut G-III Apparel Group from an “overweight” rating to an “equal weight” rating and set a $17.00 price target for the company. in a research note on Monday, June 8th. Stifel Nicolaus upped their price target on G-III Apparel Group from $8.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Finally, BidaskClub cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.70.

The company has a market capitalization of $673.64 million, a P/E ratio of 10.22, a PEG ratio of 3.53 and a beta of 2.52. The company has a current ratio of 2.48, a quick ratio of 1.27 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $12.62 and its two-hundred day moving average price is $11.22.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, September 9th. The textile maker reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.45. The company had revenue of $297.20 million during the quarter, compared to the consensus estimate of $327.68 million. G-III Apparel Group had a return on equity of 6.50% and a net margin of 2.57%. The firm’s revenue for the quarter was down 53.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. Analysts anticipate that G-III Apparel Group, Ltd. will post 0.5 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of G-III Apparel Group by 2.0% in the 2nd quarter. Principal Financial Group Inc. now owns 350,051 shares of the textile maker’s stock valued at $4,652,000 after buying an additional 6,707 shares during the last quarter. Bridgeway Capital Management Inc. boosted its holdings in shares of G-III Apparel Group by 20.3% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 260,600 shares of the textile maker’s stock valued at $3,463,000 after buying an additional 44,000 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of G-III Apparel Group by 6.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 16,274 shares of the textile maker’s stock valued at $217,000 after buying an additional 1,035 shares during the last quarter. Phocas Financial Corp. acquired a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $2,355,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in G-III Apparel Group by 10.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 696,489 shares of the textile maker’s stock valued at $9,257,000 after purchasing an additional 63,378 shares during the last quarter. 96.80% of the stock is owned by institutional investors.

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

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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