Stifel Nicolaus Reaffirms Hold Rating for G-III Apparel Group, Ltd. (GIII)
G-III Apparel Group, Ltd. (NASDAQ:GIII)‘s stock had its “hold” rating reaffirmed by research analysts at Stifel Nicolaus in a research note issued on Friday. They presently have a $20.00 target price on the textile maker’s stock. Stifel Nicolaus’ price objective indicates a potential downside of 1.82% from the stock’s current price.
GIII has been the topic of several other research reports. Piper Jaffray Companies set a $19.00 price target on shares of G-III Apparel Group and gave the stock a “hold” rating in a research report on Monday, March 27th. Zacks Investment Research cut shares of G-III Apparel Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 22nd. Cowen and Company reduced their price target on shares of G-III Apparel Group from $27.00 to $22.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 28th. Finally, KeyCorp reissued an “overweight” rating and set a $41.00 price target on shares of G-III Apparel Group in a research report on Friday, April 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.75.
G-III Apparel Group (NASDAQ:GIII) traded up 1.07% on Friday, reaching $20.37. 792,647 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $22.83 and a 200-day moving average of $25.94. G-III Apparel Group has a one year low of $18.00 and a one year high of $51.81. The stock has a market cap of $990.80 million, a price-to-earnings ratio of 18.52 and a beta of 0.53.
G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Monday, March 27th. The textile maker reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The business had revenue of $603.30 million for the quarter, compared to analyst estimates of $622.76 million. G-III Apparel Group had a return on equity of 9.13% and a net margin of 3.46%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. Equities research analysts forecast that G-III Apparel Group will post $1.01 EPS for the current fiscal year.
In other news, CEO Morris Goldfarb bought 32,846 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The shares were purchased at an average cost of $22.16 per share, for a total transaction of $727,867.36. Following the completion of the purchase, the chief executive officer now owns 3,912,586 shares of the company’s stock, valued at $86,702,905.76. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Laura H. Pomerantz sold 2,310 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $24.32, for a total transaction of $56,179.20. Following the sale, the director now owns 25,198 shares in the company, valued at $612,815.36. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in GIII. Tower Research Capital LLC TRC bought a new position in shares of G-III Apparel Group during the second quarter valued at approximately $143,000. Gerstein Fisher bought a new position in shares of G-III Apparel Group during the third quarter valued at approximately $220,000. Pitcairn Co. raised its position in shares of G-III Apparel Group by 0.3% in the second quarter. Pitcairn Co. now owns 4,565 shares of the textile maker’s stock valued at $208,000 after buying an additional 14 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of G-III Apparel Group by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 4,830 shares of the textile maker’s stock valued at $105,000 after buying an additional 80 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of G-III Apparel Group by 18.4% in the second quarter. Amalgamated Bank now owns 4,968 shares of the textile maker’s stock valued at $211,000 after buying an additional 772 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.
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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