G-III Apparel Group (GIII) Given a $36.00 Price Target at Piper Jaffray Companies
G-III Apparel Group (NASDAQ:GIII) has been assigned a $36.00 target price by equities researchers at Piper Jaffray Companies in a report issued on Wednesday. The brokerage presently has a “buy” rating on the textile maker’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 3.33% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Buckingham Research reissued a “buy” rating and issued a $35.00 price objective (up from $30.00) on shares of G-III Apparel Group in a research note on Thursday, September 7th. FBR & Co reaffirmed a “buy” rating and set a $33.00 price target on shares of G-III Apparel Group in a research note on Tuesday, September 5th. KeyCorp reaffirmed a “buy” rating and set a $41.00 price target on shares of G-III Apparel Group in a research note on Thursday, August 24th. Finally, Zacks Investment Research raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Saturday, September 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $34.73.
G-III Apparel Group (NASDAQ GIII) traded up $0.07 during mid-day trading on Wednesday, reaching $34.84. 546,576 shares of the company traded hands, compared to its average volume of 891,128. G-III Apparel Group has a 1 year low of $18.00 and a 1 year high of $35.95. The stock has a market cap of $1,698.73, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 1.55 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.
In related news, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $29.56, for a total value of $1,478,000.00. Following the sale, the chief operating officer now directly owns 269,531 shares in the company, valued at approximately $7,967,336.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $146,550.00. Following the completion of the sale, the director now owns 20,609 shares in the company, valued at $604,049.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,000 shares of company stock worth $1,682,990. Corporate insiders own 9.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in GIII. Teachers Advisors LLC lifted its holdings in G-III Apparel Group by 7.8% in the 1st quarter. Teachers Advisors LLC now owns 76,457 shares of the textile maker’s stock valued at $1,674,000 after purchasing an additional 5,560 shares in the last quarter. UBS Group AG lifted its holdings in shares of G-III Apparel Group by 85.7% during the 1st quarter. UBS Group AG now owns 5,850 shares of the textile maker’s stock worth $128,000 after acquiring an additional 2,699 shares during the period. State Street Corp lifted its holdings in shares of G-III Apparel Group by 6.6% during the 1st quarter. State Street Corp now owns 992,480 shares of the textile maker’s stock worth $21,722,000 after acquiring an additional 61,566 shares during the period. Aperio Group LLC purchased a new position in shares of G-III Apparel Group during the 2nd quarter worth about $204,000. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of G-III Apparel Group by 3.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,330 shares of the textile maker’s stock worth $258,000 after acquiring an additional 330 shares during the period.
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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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