G-III Apparel Group (NASDAQ:GIII) Coverage Initiated by Analysts at Guggenheim

Guggenheim began coverage on shares of G-III Apparel Group (NASDAQ:GIII - Free Report) in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $36.00 price target on the textile maker's stock.

Several other research analysts have also recently issued reports on the stock. Telsey Advisory Group reiterated a market perform rating and issued a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. Barclays increased their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an underweight rating in a research note on Friday, September 6th. StockNews.com raised G-III Apparel Group from a hold rating to a buy rating in a research note on Thursday, October 3rd. Finally, KeyCorp upped their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the company an overweight rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $30.00.

G-III Apparel Group Stock Performance

GIII stock traded up $0.79 on Wednesday, reaching $30.40. The company's stock had a trading volume of 594,011 shares, compared to its average volume of 600,935. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The company has a market capitalization of $1.37 billion, a P/E ratio of 8.14 and a beta of 2.19. The firm has a fifty day moving average of $28.03 and a two-hundred day moving average of $27.80.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million during the quarter, compared to analysts' expectations of $649.54 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts predict that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Morris Goldfarb sold 67,014 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares of the company's stock, valued at $118,869,051.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.40% of the company's stock.

Institutional Investors Weigh In On G-III Apparel Group

A number of large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in G-III Apparel Group during the 2nd quarter worth approximately $42,000. CWM LLC grew its holdings in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker's stock valued at $51,000 after buying an additional 1,012 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of G-III Apparel Group during the second quarter valued at $78,000. Innealta Capital LLC acquired a new position in G-III Apparel Group during the second quarter valued at $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in G-III Apparel Group in the 1st quarter worth about $171,000. Institutional investors and hedge funds own 92.13% of the company's stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.