G-III Apparel Group Coverage Initiated by Analysts at Wunderlich (GIII)
Investment analysts at Wunderlich began coverage on shares of G-III Apparel Group (NASDAQ:GIII) in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $92.00 price target on the stock. Wunderlich’s price objective suggests a potential upside of 19.23% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of G-III Apparel Group, Ltd. (GIII), a leading apparel manufacturer and retailer, with a Buy rating and target of $92, or 18.7x our FY16 EPS projection of $4.93. G-III is a dominant player in the outerwear, team sports, and dress categories, with emerging positions in women’s sportswear, accessories, and active wear categories via licensing agreements with Calvin Klein, GUESS? (GES-$25.48, Buy), Ellen Tracy, Kensie, and most sports leagues. Further, G-III has aggressively expanded its own brand stable, buying Andrew Marc, Wilsons Leather, Vilebrequin, and G.H. Bass. We view the company’s strong management team as well positioned to drive organic and acquisition-driven growth and believe G-III is among the best positioned players in the apparel industry.”
Shares of G-III Apparel Group (NASDAQ:GIII) opened at 77.16 on Friday. G-III Apparel Group has a 1-year low of $44.80 and a 1-year high of $84.28. The stock has a 50-day moving average of $80.10 and a 200-day moving average of $74.78. The company has a market cap of $1.585 billion and a P/E ratio of 20.89.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.21. The company had revenue of $366.20 million for the quarter, compared to the consensus estimate of $346.13 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 34.3% on a year-over-year basis. On average, analysts predict that G-III Apparel Group will post $4.12 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of G-III Apparel Group from $86.00 to $90.00 in a research note on Thursday, July 17th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of G-III Apparel Group in a research note on Friday, June 27th. They now have a $92.00 price target on the stock, up previously from $85.00. Finally, analysts at Telsey Advisory Group raised their price target on shares of G-III Apparel Group from $74.00 to $90.00 in a research note on Wednesday, June 4th. They now have a “not rated” rating on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $90.86.
G-III Apparel Group, Ltd. (NASDAQ:GIII) designs, manufactures and markets a range of apparel, including outerwear, dresses, sportswear, women’s suits and women’s performance wear, as well as luggage and women’s handbags, small leather goods and cold weather accessories.
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