Needham & Company LLC Analysts Give G-III Apparel Group (GIII) a $50.00 Price Target

Needham & Company LLC set a $50.00 price objective on G-III Apparel Group (NASDAQ:GIII) in a research note released on Friday, The Fly reports. The firm currently has a buy rating on the textile maker’s stock. The analysts noted that the move was a valuation call.

Other equities analysts have also issued research reports about the company. Telsey Advisory Group reiterated an outperform rating and issued a $47.00 price target (down previously from $54.00) on shares of G-III Apparel Group in a research report on Friday. KeyCorp decreased their price objective on G-III Apparel Group from $58.00 to $52.00 and set an overweight rating for the company in a research report on Friday. Buckingham Research raised their price objective on G-III Apparel Group from $55.00 to $57.00 and gave the stock a buy rating in a research report on Friday, September 7th. Piper Jaffray Companies set a $54.00 price objective on G-III Apparel Group and gave the stock a buy rating in a research report on Tuesday, September 18th. Finally, Zacks Investment Research lowered G-III Apparel Group from a strong-buy rating to a hold rating in a research report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $47.91.

Shares of NASDAQ:GIII traded down $2.06 during midday trading on Friday, reaching $32.85. The company had a trading volume of 1,405,140 shares, compared to its average volume of 803,757. The company has a quick ratio of 0.99, a current ratio of 2.12 and a debt-to-equity ratio of 0.45. G-III Apparel Group has a 1-year low of $30.36 and a 1-year high of $51.20. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 0.85 and a beta of 0.33.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.07. G-III Apparel Group had a return on equity of 11.83% and a net margin of 3.75%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company posted $1.67 EPS. G-III Apparel Group’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts predict that G-III Apparel Group will post 2.75 earnings per share for the current year.

In other G-III Apparel Group news, COO Wayne S. Miller sold 19,448 shares of the firm’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $40.09, for a total transaction of $779,670.32. Following the completion of the sale, the chief operating officer now directly owns 248,621 shares in the company, valued at approximately $9,967,215.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of GIII. Principal Financial Group Inc. raised its stake in shares of G-III Apparel Group by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 333,867 shares of the textile maker’s stock worth $12,580,000 after purchasing an additional 11,171 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $193,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $515,000. First Trust Advisors LP raised its stake in shares of G-III Apparel Group by 17.6% during the 2nd quarter. First Trust Advisors LP now owns 25,632 shares of the textile maker’s stock worth $1,138,000 after purchasing an additional 3,829 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of G-III Apparel Group by 1,640.5% during the 2nd quarter. Jennison Associates LLC now owns 271,525 shares of the textile maker’s stock worth $12,056,000 after purchasing an additional 255,925 shares in the last quarter.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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.

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