G-III Apparel Group (NASDAQ:GIII) Price Target Raised to $25.00 at Piper Jaffray Companies

G-III Apparel Group (NASDAQ:GIII) had its target price increased by Piper Jaffray Companies from $22.00 to $25.00 in a research report sent to investors on Thursday morning, The Fly reports. They currently have a neutral rating on the textile maker’s stock. Piper Jaffray Companies also issued estimates for G-III Apparel Group’s Q3 2020 earnings at $1.94 EPS, Q4 2020 earnings at $0.74 EPS and Q1 2021 earnings at $0.23 EPS.

Other analysts have also issued reports about the company. KeyCorp decreased their price objective on G-III Apparel Group from $52.00 to $45.00 and set an overweight rating on the stock in a research note on Thursday, June 6th. BidaskClub lowered G-III Apparel Group from a hold rating to a sell rating in a research note on Friday, August 16th. Zacks Investment Research lowered G-III Apparel Group from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. Stifel Nicolaus set a $22.00 price objective on G-III Apparel Group and gave the company a hold rating in a research note on Friday, September 6th. Finally, Bank of America lowered G-III Apparel Group from a buy rating to a neutral rating and decreased their price objective for the company from $35.00 to $21.00 in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.40.

Shares of GIII traded down $0.40 during mid-day trading on Thursday, hitting $26.86. The stock had a trading volume of 599,413 shares, compared to its average volume of 704,246. The firm has a market cap of $1.28 billion, a P/E ratio of 9.39, a PEG ratio of 0.79 and a beta of 1.47. The business has a fifty day moving average price of $23.49 and a 200-day moving average price of $31.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.08 and a quick ratio of 1.17. G-III Apparel Group has a 52 week low of $18.18 and a 52 week high of $48.79.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 5th. The textile maker reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm had revenue of $643.90 million for the quarter, compared to analyst estimates of $656.16 million. G-III Apparel Group had a return on equity of 12.37% and a net margin of 4.53%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, research analysts expect that G-III Apparel Group will post 3.19 earnings per share for the current fiscal year.

In other G-III Apparel Group news, CEO Morris Goldfarb bought 40,000 shares of G-III Apparel Group stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average cost of $26.47 per share, for a total transaction of $1,058,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,250,483 shares in the company, valued at $86,040,285.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of G-III Apparel Group by 9.6% in the 2nd quarter. BlackRock Inc. now owns 6,841,163 shares of the textile maker’s stock worth $201,268,000 after purchasing an additional 599,647 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of G-III Apparel Group by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 4,714,343 shares of the textile maker’s stock worth $138,696,000 after purchasing an additional 131,899 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of G-III Apparel Group by 9.3% in the 2nd quarter. Invesco Ltd. now owns 2,455,719 shares of the textile maker’s stock worth $72,248,000 after purchasing an additional 209,171 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of G-III Apparel Group by 45.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,266,955 shares of the textile maker’s stock worth $66,694,000 after purchasing an additional 713,195 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of G-III Apparel Group by 46.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,181,061 shares of the textile maker’s stock worth $34,747,000 after purchasing an additional 373,781 shares in the last quarter.

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.

Further Reading: Return on Investment (ROI)

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