Guggenheim Initiates Coverage on G-III Apparel Group (NASDAQ:GIII)

Guggenheim started coverage on shares of G-III Apparel Group (NASDAQ:GIII) in a report issued on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $36.00 target price on the textile maker’s stock.

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

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $30.45 on Wednesday. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The company has a 50 day moving average price of $28.27 and a 200 day moving average price of $27.86. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.97 and a beta of 2.19.

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

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the sale, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available at the SEC website. 12.40% of the stock is currently owned by insiders.

Institutional Trading of G-III Apparel Group

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group during the second quarter worth $42,000. CWM LLC raised 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 worth $51,000 after purchasing an additional 1,012 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of G-III Apparel Group in the 2nd quarter worth about $78,000. Innealta Capital LLC acquired a new stake in shares of G-III Apparel Group in the 2nd quarter worth about $124,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of G-III Apparel Group in the 1st quarter worth about $171,000. 92.13% of the stock is owned by institutional investors and hedge funds.

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.