In yesterday’s Wall Street session, G-III Apparel Group Ltd. (NASDAQ:GIII) shares traded at $20.33, up 5.50% from the previous session.
6 analysts cover G-III Apparel Group Ltd. (NASDAQ:GIII), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $23.00 and a low of $17.00, we find $20.50. Given the previous closing price of $19.27, this indicates a potential upside of 6.38 percent. GIII stock price is now 15.71% away from the 50-day moving average and 23.04% away from the 200-day moving average. The market capitalization of the company currently stands at $897.57M.
The stock has received a hold rating from 5 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $20.33 as their price target over the next twelve months.
With the price target reduced from $22 to $14, Telsey Advisory Group maintained Market Perform rating for G-III Apparel Group Ltd. (NASDAQ: GIII).
In other news, Aaron Sammy, Vice Chairman and President sold 208,943 shares of the company’s stock on Jun 27. The stock was sold for $4,126,624 at an average price of $19.75. Upon completion of the transaction, the Vice Chairman and President now directly owns 200,143 shares in the company, valued at $4.07 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 27, Director POMERANTZ LAURA H sold 9,304 shares of the business’s stock. A total of $180,498 was realized by selling the stock at an average price of $19.40. This leaves the insider owning 41,974 shares of the company worth $0.85 million. Insiders disposed of 3,250 shares of company stock worth roughly $66072.5 over the past 1 year. A total of 5.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GIII stock. A new stake in G-III Apparel Group Ltd. shares was purchased by NEWTYN MANAGEMENT, LLC during the first quarter worth $30,700,000. TWO SIGMA INVESTMENTS, LP invested $4,434,000 in shares of GIII during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in G-III Apparel Group Ltd. valued at approximately $3,559,000. STATE OF NEW JERSEY COMMON PENSION FUND D acquired a new stake in GIII for approximately $2,866,000. HRT FINANCIAL LP purchased a new stake in GIII valued at around $2,601,000 in the second quarter. In total, there are 293 active investors with 93.50% ownership of the company’s stock.
On Monday morning G-III Apparel Group Ltd. (NASDAQ: GIII) stock kicked off with the opening price of $19.40. During the past 12 months, G-III Apparel Group Ltd. has had a low of $11.60 and a high of $25.23. As of last week, the company has a debt-to-equity ratio of 0.39, a current ratio of 2.90, and a quick ratio of 1.70. The fifty day moving average price for GIII is $17.57 and a two-hundred day moving average price translates $16.52 for the stock.
The latest earnings results from G-III Apparel Group Ltd. (NASDAQ: GIII) was released for Apr, 2023. According to the Apparel Manufacturing Company, earnings per share came in at $0.13, beating analysts’ expectations of -$0.1 by 0.23. This compares to $0.62 EPS in the same period last year. The net profit margin was -5.10% and return on equity was -10.70% for GIII. The company reported revenue of $606.59 million for the quarter, compared to $688.76 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -11.93 percent. For the current quarter, analysts expect GIII to generate $589.36M in revenue.
G-III Apparel Group Ltd.(GIII) 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 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. The company markets apparel and other products under the proprietary brands, including DKNY, Donna Karan, Karl Lagerfeld, Karl Lagerfeld Paris, Vilebrequin, G.H. Bass, Eliza J, Jessica Howard, Andrew Marc, Marc New York, Wilsons Leather, Sonia Rykiel, and G-III Sports by Carl Banks; and licensed brands, such as Calvin Klein, Tommy Hilfiger, Levi’s, Guess?, Kenneth Cole, Cole Haan, Vince Camuto, Margaritaville, and Dockers. It has licenses with the National Football League, National Basketball Association, Major League Baseball, and National Hockey League, as well as approximately 150 U.S. colleges and universities. The company offers its products to department, specialty, and mass merchant retail stores. It also sells its products online. G-III Apparel Group, Ltd. was founded in 1956 and is based in New York, New York.
