G-III Apparel Group (NASDAQ:GIII) Posts Quarterly Earnings Results

G-III Apparel Group (NASDAQ:GIII – Get Rating) issued its earnings results on Thursday. The textile maker reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05), Briefing.com reports. The company had revenue of $854.20 million for the quarter, compared to analysts’ expectations of $769.28 million. G-III Apparel Group had a return on equity of 10.70% and a net margin of 5.66%. G-III Apparel Group’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share.

G-III Apparel Group Trading Down 1.6 %

Shares of GIII stock opened at $15.03 on Friday. The firm has a 50-day moving average price of $15.97 and a 200 day moving average price of $16.59. G-III Apparel Group has a twelve month low of $11.60 and a twelve month high of $31.70. The company has a market capitalization of $713.76 million, a price-to-earnings ratio of 4.18, a PEG ratio of 0.31 and a beta of 2.65. The company has a current ratio of 3.09, a quick ratio of 1.68 and a debt-to-equity ratio of 0.49.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of G-III Apparel Group from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 1st. KeyCorp restated an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of G-III Apparel Group in a research report on Monday, January 30th. Telsey Advisory Group restated a “market perform” rating and set a $14.00 target price on shares of G-III Apparel Group in a research report on Monday, March 13th. CL King lowered shares of G-III Apparel Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $22.00 in a research report on Thursday, December 1st. Finally, UBS Group cut their price target on G-III Apparel Group from $22.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, December 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.38.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GIII. Madison Avenue Partners LP acquired a new position in G-III Apparel Group in the 4th quarter valued at about $25,716,000. Wasatch Advisors Inc. acquired a new position in G-III Apparel Group in the 1st quarter valued at about $28,890,000. Norges Bank acquired a new position in G-III Apparel Group in the 4th quarter valued at about $6,479,000. Morgan Stanley raised its stake in G-III Apparel Group by 66.2% in the 4th quarter. Morgan Stanley now owns 1,017,476 shares of the textile maker’s stock valued at $13,950,000 after purchasing an additional 405,402 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in G-III Apparel Group by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 4,874,631 shares of the textile maker’s stock valued at $131,858,000 after purchasing an additional 332,865 shares during the last quarter. Institutional investors and hedge funds own 88.79% of the company’s stock.

G-III Apparel Group Company Profile

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G-III Apparel Group Ltd. engages in the designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear, as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.