Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 19.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,795 shares of the textile maker’s stock after buying an additional 461 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in G-III Apparel Group were worth $78,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its holdings in G-III Apparel Group by 1,396.0% in the fourth quarter. Meeder Asset Management Inc. now owns 1,511 shares of the textile maker’s stock worth $41,000 after buying an additional 1,410 shares during the period. Csenge Advisory Group purchased a new stake in G-III Apparel Group in the third quarter worth about $93,000. Group One Trading L.P. lifted its holdings in G-III Apparel Group by 118.7% in the third quarter. Group One Trading L.P. now owns 3,103 shares of the textile maker’s stock worth $150,000 after buying an additional 1,684 shares during the period. Moody National Bank Trust Division purchased a new stake in G-III Apparel Group in the third quarter worth about $188,000. Finally, Pitcairn Co. purchased a new stake in G-III Apparel Group in the third quarter worth about $292,000.
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GIII has been the subject of a number of analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 target price (down previously from $54.00) on shares of G-III Apparel Group in a research note on Friday, December 7th. Barclays reaffirmed a “hold” rating and set a $36.00 target price on shares of G-III Apparel Group in a research note on Sunday, January 13th. Zacks Investment Research downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 6th. KeyCorp reaffirmed a “buy” rating on shares of G-III Apparel Group in a research note on Sunday, December 9th. Finally, BidaskClub downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. G-III Apparel Group has an average rating of “Buy” and an average price target of $45.91.
Shares of GIII opened at $35.43 on Friday. The company has a market cap of $1.75 billion, a P/E ratio of 22.14, a PEG ratio of 0.74 and a beta of 0.94. The company has a quick ratio of 1.55, a current ratio of 2.54 and a debt-to-equity ratio of 0.59. G-III Apparel Group, Ltd. has a twelve month low of $25.43 and a twelve month high of $51.20.
G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.07. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. G-III Apparel Group had a net margin of 3.75% and a return on equity of 11.60%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 earnings per share. On average, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 2.75 EPS for the current fiscal year.
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About G-III Apparel Group
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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