G-III Apparel Group (GIII) PT Set at $32.00 by Cowen

G-III Apparel Group (NASDAQ:GIII) has been given a $32.00 price target by analysts at Cowen in a research report issued on Thursday. The brokerage presently has a “hold” rating on the textile maker’s stock. Cowen’s price target would indicate a potential upside of 5.54% from the company’s current price.

GIII has been the subject of a number of other research reports. Zacks Investment Research cut shares of 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 target price on shares of G-III Apparel Group and gave the company a “buy” rating in a research report on Thursday, October 19th. Buckingham Research boosted their target price on shares of G-III Apparel Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 31st. Telsey Advisory Group raised shares of G-III Apparel Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $27.00 to $36.00 in a research report on Wednesday, September 6th. Finally, ValuEngine raised shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. G-III Apparel Group currently has a consensus rating of “Buy” and a consensus target price of $33.64.

G-III Apparel Group (NASDAQ:GIII) traded down $0.48 during mid-day trading on Thursday, reaching $30.32. 779,328 shares of the company’s stock were exchanged, compared to its average volume of 840,584. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 2.75. G-III Apparel Group has a 1 year low of $18.00 and a 1 year high of $32.59. The company has a market capitalization of $1,480.00, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.41 and a beta of 0.21.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, September 6th. The textile maker reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.11. The firm had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $522.45 million. G-III Apparel Group had a net margin of 1.23% and a return on equity of 4.65%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share. research analysts expect that G-III Apparel Group will post 1.36 EPS for the current fiscal year.

In other G-III Apparel Group news, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $29.56, for a total transaction of $1,478,000.00. Following the completion of the transaction, the chief operating officer now owns 269,531 shares of the company’s stock, valued at $7,967,336.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan Feller sold 5,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $29.31, for a total value of $146,550.00. Following the transaction, the director now directly owns 20,609 shares of the company’s stock, valued at approximately $604,049.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,000 shares of company stock valued at $1,682,990. 9.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in G-III Apparel Group by 74.7% during the second quarter. Bank of New York Mellon Corp now owns 5,574,206 shares of the textile maker’s stock worth $139,077,000 after acquiring an additional 2,383,043 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of G-III Apparel Group by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,632,380 shares of the textile maker’s stock valued at $90,628,000 after buying an additional 21,050 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of G-III Apparel Group by 21.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,523,557 shares of the textile maker’s stock valued at $102,254,000 after buying an additional 618,641 shares during the period. Aberdeen Asset Management PLC UK increased its stake in shares of G-III Apparel Group by 9.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,933,086 shares of the textile maker’s stock valued at $48,231,000 after buying an additional 166,857 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC increased its stake in shares of G-III Apparel Group by 3.1% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,872,837 shares of the textile maker’s stock valued at $54,350,000 after buying an additional 56,505 shares during the period.

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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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