G-III Apparel Group (GIII) Receives a Buy from Needham


In a report released today, Rick Patel from Needham assigned a Buy rating to G-III Apparel Group (GIII), with a price target of $21.00. The company’s shares closed last Monday at $11.27.

According to TipRanks.com, Patel ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -7.2% and a 37.4% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, Lululemon Athletica, and Oxford Industries.

Currently, the analyst consensus on G-III Apparel Group is a Moderate Buy with an average price target of $16.00.

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Based on G-III Apparel Group’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $755 million and net profit of $25.29 million. In comparison, last year the company earned revenue of $767 million and had a net profit of $24.08 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GIII in relation to earlier this year.

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. engages in the designs, sourcing, and marketing women’s apparel. It operates through the: Wholesale Operations and Retail Operations segments. The Wholesale Operations segment includes sales of products under brands licensed from third parties and sales of products under its own brands and private label brands, as well as sales related to the Vilebrequin business. The Retail Operations segment consists of direct sales to consumers through company-operated stores and product sales through its owned websites for the DKNY, Donna Karan, Wilsons Leather, G.H. Bass, and Karl Lagerfeld Paris businesses. Its products include outerwear, dresses, sportswear, swimwear, suits, performance wear, handbags, footwear, small leather goods, cold weather accessories, and luggage. The company was founded by Aron Goldfarb in 1974 and is headquartered in New York, NY.

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