G-III Apparel Group, LTD. (NASDAQ:GIII) shares reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $34.42 and last traded at $30.14, with a volume of 1639400 shares trading hands. The stock had previously closed at $30.32.

The textile maker reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.13. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. G-III Apparel Group had a net margin of 1.23% and a return on equity of 4.65%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.50 EPS.

A number of brokerages have commented on GIII. Piper Jaffray Companies set a $33.00 price objective on shares of G-III Apparel Group and gave the company a “buy” rating in a research report on Thursday, November 30th. Cowen set a $23.00 price objective on shares of G-III Apparel Group and gave the company a “hold” rating in a research report on Monday, August 14th. ValuEngine raised shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Barclays began coverage on shares of G-III Apparel Group in a research report on Tuesday, September 19th. They issued an “underweight” rating and a $28.00 price objective on the stock. Finally, BidaskClub downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.18.

In related news, COO Wayne S. Miller sold 50,000 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $29.56, for a total value of $1,478,000.00. Following the transaction, the chief operating officer now directly owns 269,531 shares of the company’s stock, valued at approximately $7,967,336.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Feller sold 2,000 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $29.22, for a total transaction of $58,440.00. Following the completion of the transaction, the director now directly owns 20,609 shares in the company, valued at $602,194.98. The disclosure for this sale can be found here. Insiders sold a total of 57,000 shares of company stock worth $1,682,990 over the last ninety days. Insiders own 9.70% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System boosted its stake in G-III Apparel Group by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 22,875 shares of the textile maker’s stock worth $571,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund boosted its stake in G-III Apparel Group by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 31,969 shares of the textile maker’s stock worth $798,000 after purchasing an additional 275 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in G-III Apparel Group by 3.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,330 shares of the textile maker’s stock worth $258,000 after purchasing an additional 330 shares during the period. HighTower Advisors LLC boosted its stake in G-III Apparel Group by 2.3% during the 2nd quarter. HighTower Advisors LLC now owns 18,197 shares of the textile maker’s stock worth $450,000 after purchasing an additional 408 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in G-III Apparel Group by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,030 shares of the textile maker’s stock worth $849,000 after purchasing an additional 438 shares during the period.

The stock has a market capitalization of $1,469.57, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 1.48 and a beta of 0.29. The company has a quick ratio of 1.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.56.

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About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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