Raymond James Financial Inc. Takes Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Raymond James Financial Inc. acquired a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 166,392 shares of the textile maker's stock, valued at approximately $5,428,000. Raymond James Financial Inc. owned about 0.38% of G-III Apparel Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in shares of G-III Apparel Group by 18.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,354 shares of the textile maker's stock worth $436,000 after acquiring an additional 2,079 shares during the last quarter. Wells Fargo & Company MN increased its position in G-III Apparel Group by 17.7% during the 4th quarter. Wells Fargo & Company MN now owns 29,147 shares of the textile maker's stock worth $951,000 after purchasing an additional 4,391 shares in the last quarter. Islay Capital Management LLC acquired a new position in G-III Apparel Group in the 4th quarter valued at about $878,000. Integrated Quantitative Investments LLC purchased a new position in G-III Apparel Group in the 4th quarter valued at about $1,173,000. Finally, Foundry Partners LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth about $6,094,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GIII. UBS Group cut their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Telsey Advisory Group reissued a "market perform" rating and set a $30.00 price target on shares of G-III Apparel Group in a research note on Friday, April 4th. Barclays lowered their price objective on G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating for the company in a research report on Monday. Finally, StockNews.com downgraded G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.20.

G-III Apparel Group Trading Up 1.1 %

Shares of GIII traded up $0.28 during mid-day trading on Wednesday, reaching $25.22. The company had a trading volume of 448,347 shares, compared to its average volume of 555,987. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 6.62 and a beta of 1.63. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $25.78 and a 200-day simple moving average of $29.43. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

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 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.