Piper Jaffray Companies Reiterates $22.00 Price Target for G-III Apparel Group (NASDAQ:GIII)

Piper Jaffray Companies set a $22.00 price target on G-III Apparel Group (NASDAQ:GIII) in a research note issued to investors on Friday morning, TipRanks reports. The firm currently has a hold rating on the textile maker’s stock. Piper Jaffray Companies also issued estimates for G-III Apparel Group’s Q2 2020 earnings at $0.20 EPS, Q3 2020 earnings at $2.06 EPS, FY2020 earnings at $3.12 EPS, Q3 2021 earnings at $2.08 EPS and Q4 2021 earnings at $0.61 EPS.

A number of other research firms have also recently commented on GIII. TheStreet cut shares of G-III Apparel Group from a b- rating to a c+ rating in a research report on Wednesday, June 5th. KeyCorp lowered their price objective on shares of G-III Apparel Group from $52.00 to $45.00 and set an overweight rating for the company in a research report on Thursday, June 6th. Bank of America lowered their price objective on shares of G-III Apparel Group from $43.00 to $35.00 and set a buy rating for the company in a research report on Thursday, June 6th. ValuEngine cut shares of G-III Apparel Group from a hold rating to a sell rating in a research report on Monday, May 13th. Finally, Telsey Advisory Group restated an outperform rating and issued a $34.00 price objective (down previously from $47.00) on shares of G-III Apparel Group in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $39.40.

Shares of G-III Apparel Group stock traded up $0.48 on Friday, hitting $21.64. 606,194 shares of the company’s stock traded hands, compared to its average volume of 661,638. The firm’s 50-day moving average price is $26.90 and its two-hundred day moving average price is $32.90. The stock has a market capitalization of $1.00 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 0.58 and a beta of 1.39. G-III Apparel Group has a one year low of $19.89 and a one year high of $50.83. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.17 and a quick ratio of 1.17.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $633.60 million during the quarter, compared to analysts’ expectations of $650.03 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. On average, analysts forecast that G-III Apparel Group will post 3.26 earnings per share for the current fiscal year.

In other news, CEO Morris Goldfarb bought 40,000 shares of the stock in a transaction on Thursday, July 11th. The stock was purchased at an average price of $26.47 per share, for a total transaction of $1,058,800.00. Following the acquisition, the chief executive officer now owns 3,250,483 shares in the company, valued at $86,040,285.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in GIII. BlackRock Inc. boosted its stake in shares of G-III Apparel Group by 9.6% during the 2nd quarter. BlackRock Inc. now owns 6,841,163 shares of the textile maker’s stock worth $201,268,000 after buying an additional 599,647 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of G-III Apparel Group by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,714,343 shares of the textile maker’s stock worth $138,696,000 after buying an additional 131,899 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of G-III Apparel Group by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,322 shares of the textile maker’s stock worth $115,585,000 after buying an additional 58,455 shares during the last quarter. Invesco Ltd. boosted its stake in shares of G-III Apparel Group by 9.3% during the 2nd quarter. Invesco Ltd. now owns 2,455,719 shares of the textile maker’s stock worth $72,248,000 after buying an additional 209,171 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of G-III Apparel Group by 45.9% during the 2nd quarter. Victory Capital Management Inc. now owns 2,266,955 shares of the textile maker’s stock worth $66,694,000 after buying an additional 713,195 shares during the last quarter.

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 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.

Featured Article: Total Return

Analyst Recommendations for G-III Apparel Group (NASDAQ:GIII)

Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.