G-III Apparel Group (NASDAQ:GIII) Research Coverage Started at B. Riley

B. Riley started coverage on shares of G-III Apparel Group (NASDAQ:GIII) in a research note published on Wednesday morning, TipRanks reports. The brokerage issued a buy rating and a $33.00 price target on the textile maker’s stock. B. Riley also issued estimates for G-III Apparel Group’s Q4 2020 earnings at $0.70 EPS, FY2020 earnings at $3.13 EPS, Q1 2021 earnings at $0.18 EPS, Q2 2021 earnings at $0.18 EPS, Q3 2021 earnings at $1.91 EPS, Q4 2021 earnings at $0.72 EPS and FY2021 earnings at $2.98 EPS.

GIII has been the topic of a number of other research reports. Barclays initiated coverage on G-III Apparel Group in a research note on Tuesday, November 12th. They set an equal weight rating and a $27.00 target price on the stock. Telsey Advisory Group lifted their price target on G-III Apparel Group from $23.00 to $28.00 and gave the stock a market perform rating in a report on Thursday. Cowen restated a buy rating and issued a $34.00 price target on shares of G-III Apparel Group in a research note on Thursday. Piper Jaffray Companies upped their price objective on G-III Apparel Group from $22.00 to $25.00 and gave the company a neutral rating in a report on Thursday, September 12th. Finally, Needham & Company LLC reiterated a buy rating and set a $32.00 price objective on shares of G-III Apparel Group in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. G-III Apparel Group currently has a consensus rating of Hold and a consensus price target of $29.27.

Shares of GIII stock opened at $28.89 on Wednesday. G-III Apparel Group has a 52 week low of $18.18 and a 52 week high of $43.98. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.26 and a beta of 1.55. The company has a 50-day simple moving average of $27.79 and a 200 day simple moving average of $26.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 2.08.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Wednesday, December 4th. The textile maker reported $1.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.17 billion. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.37%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 EPS. Sell-side analysts forecast that G-III Apparel Group will post 3.19 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY grew its position in G-III Apparel Group by 4.1% during the third quarter. Metropolitan Life Insurance Co NY now owns 14,793 shares of the textile maker’s stock worth $381,000 after buying an additional 579 shares in the last quarter. Millennium Management LLC lifted its position in shares of G-III Apparel Group by 228.3% during the 3rd quarter. Millennium Management LLC now owns 429,737 shares of the textile maker’s stock valued at $11,074,000 after acquiring an additional 298,827 shares during the period. Squarepoint Ops LLC lifted its position in shares of G-III Apparel Group by 55.9% during the 3rd quarter. Squarepoint Ops LLC now owns 131,182 shares of the textile maker’s stock valued at $3,381,000 after acquiring an additional 47,048 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of G-III Apparel Group during the 3rd quarter valued at $869,000. Finally, Barclays PLC grew its holdings in shares of G-III Apparel Group by 682.9% during the 3rd quarter. Barclays PLC now owns 124,819 shares of the textile maker’s stock worth $3,217,000 after purchasing an additional 146,231 shares in the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.

G-III Apparel Group Company Profile

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.

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

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