G-III Apparel Group Ltd. (GIII) Upgraded by Standpoint Research to “Buy”
A number of other brokerages have also weighed in on GIII. Zacks Investment Research lowered G-III Apparel Group from a hold rating to a sell rating in a research note on Thursday, June 9th. Piper Jaffray Cos. reiterated a buy rating on shares of G-III Apparel Group in a research note on Wednesday, June 15th. Brean Capital initiated coverage on G-III Apparel Group in a research note on Tuesday, June 21st. They set a buy rating and a $51.00 target price on the stock. Telsey Advisory Group lowered G-III Apparel Group from an outperform rating to a market perform rating and lowered their target price for the stock from $54.00 to $45.00 in a research note on Tuesday, July 26th. Finally, Cowen and Company lowered G-III Apparel Group from an outperform rating to a market perform rating and set a $43.00 target price on the stock. in a research note on Tuesday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. G-III Apparel Group presently has an average rating of Hold and an average price target of $41.80.
G-III Apparel Group (NASDAQ:GIII) opened at 29.60 on Tuesday. The company has a market cap of $1.35 billion, a P/E ratio of 14.39 and a beta of 0.75. G-III Apparel Group has a 12 month low of $28.26 and a 12 month high of $69.26. The firm has a 50-day moving average price of $33.81 and a 200 day moving average price of $41.40.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.21. The business earned $442.30 million during the quarter, compared to the consensus estimate of $484.85 million. G-III Apparel Group had a net margin of 4.13% and a return on equity of 10.91%. G-III Apparel Group’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. On average, equities analysts expect that G-III Apparel Group will post $2.12 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in shares of G-III Apparel Group during the second quarter valued at about $134,000. Tower Research Capital LLC TRC bought a new position in shares of G-III Apparel Group during the second quarter valued at about $143,000. Pitcairn Co. raised its position in G-III Apparel Group by 0.3% in the second quarter. Pitcairn Co. now owns 4,565 shares of the company’s stock valued at $208,000 after buying an additional 14 shares during the period. Amalgamated Bank raised its position in G-III Apparel Group by 18.4% in the second quarter. Amalgamated Bank now owns 4,968 shares of the company’s stock valued at $211,000 after buying an additional 772 shares during the period. Finally, PineBridge Investments L.P. raised its position in G-III Apparel Group by 3.9% in the second quarter. PineBridge Investments L.P. now owns 5,086 shares of the company’s stock valued at $232,000 after buying an additional 189 shares during the period. 99.88% of the stock is owned by institutional investors and hedge funds.
About G-III Apparel Group
G-III Apparel Group, Ltd. (G-III) designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations, which consists of its licensed products and non-licensed products, and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under its own brands and private label brands, and retail operations, which consists of the Wilsons Leather and G.H.
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