G-III Apparel Group (GIII) Downgraded by Piper Jaffray Companies
G-III Apparel Group (NASDAQ:GIII) was downgraded by investment analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $35.00 price target on the textile maker’s stock, down from their prior price target of $43.00. Piper Jaffray Companies’ price objective would indicate a potential upside of 7.39% from the stock’s previous close. Piper Jaffray Companies also issued estimates for G-III Apparel Group’s Q1 2021 earnings at $0.25 EPS.
GIII has been the topic of several other reports. ValuEngine raised G-III Apparel Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. TheStreet raised G-III Apparel Group from a “c+” rating to a “b-” rating in a research report on Thursday, March 21st. Zacks Investment Research lowered G-III Apparel Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Bank of America set a $46.00 target price on G-III Apparel Group and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Barclays increased their target price on G-III Apparel Group from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.55.
Shares of NASDAQ GIII opened at $32.59 on Tuesday. G-III Apparel Group has a 1-year low of $25.43 and a 1-year high of $51.20. The company has a current ratio of 2.16, a quick ratio of 1.17 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 0.69 and a beta of 1.00.
In other news, Vice Chairman Sammy Aaron sold 71,766 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $41.33, for a total transaction of $2,966,088.78. Following the transaction, the insider now directly owns 434,969 shares of the company’s stock, valued at $17,977,268.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura H. Pomerantz sold 821 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $40.43, for a total value of $33,193.03. Following the transaction, the director now directly owns 39,682 shares in the company, valued at $1,604,343.26. The disclosure for this sale can be found here. Insiders have sold 74,692 shares of company stock worth $3,086,681 over the last three months. Corporate insiders own 8.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Financial Architects Inc bought a new position in G-III Apparel Group during the fourth quarter valued at about $28,000. Bruderman Asset Management LLC bought a new position in G-III Apparel Group during the fourth quarter valued at about $33,000. Meeder Asset Management Inc. boosted its stake in G-III Apparel Group by 1,396.0% during the fourth quarter. Meeder Asset Management Inc. now owns 1,511 shares of the textile maker’s stock valued at $41,000 after buying an additional 1,410 shares in the last quarter. Acadian Asset Management LLC boosted its stake in G-III Apparel Group by 1,780.0% during the fourth quarter. Acadian Asset Management LLC now owns 1,974 shares of the textile maker’s stock valued at $55,000 after buying an additional 1,869 shares in the last quarter. Finally, Huntington National Bank boosted its stake in G-III Apparel Group by 170.8% during the fourth quarter. Huntington National Bank now owns 2,445 shares of the textile maker’s stock valued at $68,000 after buying an additional 1,542 shares in the last quarter.
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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