G-III Apparel Group, LTD. (NASDAQ:GIII) rose 13.8% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $35.03 and last traded at $34.30. Approximately 3,627,600 shares were traded during mid-day trading, an increase of 324% from the average daily volume of 855,908 shares. The stock had previously closed at $30.14.

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

GIII has been the subject of several analyst reports. Zacks Investment Research downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Piper Jaffray Companies set a $33.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a research report on Thursday, October 19th. Telsey Advisory Group upgraded G-III Apparel Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $27.00 to $36.00 in a research report on Wednesday, September 6th. Cowen set a $23.00 price objective on G-III Apparel Group and gave the stock a “hold” rating in a research report on Monday, August 14th. Finally, Buckingham Research boosted their price objective on G-III Apparel Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $34.18.

In other G-III Apparel Group news, Director Alan Feller sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $29.22, for a total value of $58,440.00. Following the completion of the sale, the director now directly owns 20,609 shares in the company, valued at $602,194.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Wayne S. Miller sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $29.56, for a total value of $1,478,000.00. Following the completion of the sale, the chief operating officer now owns 269,531 shares of the company’s stock, valued at $7,967,336.36. The disclosure for this sale can be found here. Insiders sold 57,000 shares of company stock valued at $1,682,990 over the last 90 days. 9.70% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ingalls & Snyder LLC increased its holdings in shares of G-III Apparel Group by 852.3% in the third quarter. Ingalls & Snyder LLC now owns 178,083 shares of the textile maker’s stock valued at $5,168,000 after buying an additional 159,383 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of G-III Apparel Group by 45.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock valued at $72,478,000 after buying an additional 907,701 shares in the last quarter. Scout Investments Inc. increased its holdings in shares of G-III Apparel Group by 42.5% in the third quarter. Scout Investments Inc. now owns 70,350 shares of the textile maker’s stock valued at $2,042,000 after buying an additional 20,975 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in shares of G-III Apparel Group by 145.1% in the second quarter. Pinebridge Investments L.P. now owns 57,443 shares of the textile maker’s stock valued at $1,433,000 after buying an additional 34,004 shares in the last quarter. Finally, Cortina Asset Management LLC bought a new position in shares of G-III Apparel Group in the third quarter valued at $4,709,000.

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

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G-III Apparel Group Company Profile

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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