B.Riley FBR analyst Susan Anderson reiterated a Hold rating on G-III Apparel Group (NASDAQ: GIII) today and set a price target of $47. The company’s shares opened today at $46.26.
Anderson commented:
“G-III Apparel Group (GIII) reported 2Q adj. EPS of $0.22 vs. B. Riley FBR/consensus estimates of $0.01/$0.03, driven by a 16% increase in sales. 2Q GM compressed -65 bps (vs. B. bps/+86 bps) and SG&A levered +444 bps (vs. B. bps/+131 bps). Management guided 3Q18 adj. EPS to $1.72 to $1.82 vs. B. Riley FBR/ consensus $1.93/$1.86 on revenue of $1,080M vs. consensus $1,065M, indicating +5% growth Y/Y . GIII increased guidance for 2018 adj.”
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 5.9% and a 54.3% success rate. Anderson covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Ascena Retail Group, and Abercrombie Fitch.
G-III Apparel Group has an analyst consensus of Moderate Buy, with a price target consensus of $51.50, an 11.3% upside from current levels. In a report released today, Barclays also maintained a Hold rating on the stock with a $50 price target.
.
See today’s analyst top recommended stocks >>
Based on G-III Apparel Group’s latest earnings release for the quarter ending July 31, the company reported a quarterly net profit of $10.08 million. In comparison, last year the company had a GAAP net loss of $8.57 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
G-III Apparel Group Ltd. manufactures and distributes outerwear and sportswear. It operates through the following business segments: Wholesale Operations and Retail Operations business. The Wholesale Operations segment consists of products and non-licensed products segments. It also includes sales of products under the company’s licensed brands.
