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

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

A number of other research analysts have also weighed in on GIII. Telsey Advisory Group reissued a market perform rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Barclays raised their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an underweight rating in a report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a hold rating to a buy rating in a report on Thursday, October 3rd. Finally, KeyCorp lifted 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 company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $30.00.

G-III Apparel Group Trading Up 0.3 %

G-III Apparel Group stock opened at $30.45 on Wednesday. The stock has a market cap of $1.37 billion, a P/E ratio of 7.97 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $35.68. The firm’s 50 day moving average price is $28.27 and its 200-day moving average price is $27.86.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the firm 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. On average, equities analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group 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 in the company, valued at approximately $118,869,051.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in GIII. Point72 Asia Singapore Pte. Ltd. bought 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% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group in the second quarter valued at about $78,000. Innealta Capital LLC bought a new stake in shares of G-III Apparel Group in the second quarter valued at about $124,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of G-III Apparel Group in the first quarter valued at about $171,000. 92.13% of the stock is currently owned by institutional investors.

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.