Wednesday, December 2, 2020

Wells Fargo slashes price target on G-III Apparel Group Ltd. [GIII] – find out why.

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G-III Apparel Group Ltd. [NASDAQ: GIII] surged by $0.11 during the normal trading session on Tuesday and reaching a high of $10.01 during the day while it closed the day at $9.74. The company report on July 30, 2020 that G-III Apparel Group, Ltd. Announces Pricing of $400 Million of Senior Secured Notes Due 2025.

G-III Apparel Group, Ltd. (the “Company”) (Nasdaq GS: GIII) today announced that it has priced $400 million aggregate principal amount of 7.875% Senior Secured Notes Due 2025 (the “Notes”). The Notes will be senior secured obligations of, and will be guaranteed on a senior secured basis by, each of the Company’s subsidiaries that are guarantors under its senior secured credit facilities. The Notes offering (the “Offering”) is expected to close on August 7, 2020, subject to customary closing conditions.


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The Company intends to use the net proceeds of the Offering (i) to repay its existing term loan facility due 2022, (ii) to pay related fees and expenses and (iii) for general corporate purposes.

G-III Apparel Group Ltd. stock has also loss -12.88% of its value over the past 7 days. However, GIII stock has declined by -0.81% in the 3 months of the year. Over the past six months meanwhile, it has lost -65.85% and lost -70.93% year-on date.

The market cap for GIII stock reached $510.18 million, with 48.03 million shares outstanding and 42.50 million shares in the current float. Compared to the average trading volume of 1.51M shares, GIII reached a trading volume of 1685454 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about G-III Apparel Group Ltd. [GIII]:

Wells Fargo have made an estimate for G-III Apparel Group Ltd. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on June 08, 2020. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $10 to $16. The new note on the price target was released on June 05, 2020, representing the official price target for G-III Apparel Group Ltd. stock. Previously, the target price had yet another raise to $8, while Cowen analysts kept a Market Perform rating on GIII stock. On March 20, 2020, analysts decreased their price target for GIII shares from 28 to 10.

The Average True Range (ATR) for G-III Apparel Group Ltd. is set at 0.87, with the Price to Sales ratio for GIII stock in the period of the last 12 months amounting to 0.17. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 11.76. Price to Free Cash Flow for GIII in the course of the last twelve months was 3.92 with Quick ratio for the last quarter at 2.70.

GIII stock trade performance evaluation

G-III Apparel Group Ltd. [GIII] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.88. With this latest performance, GIII shares dropped by -24.67% in over the last four-week period, additionally sinking by -65.85% over the last 6 months – not to mention a drop of -60.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GIII stock in for the last two-week period is set at 34.87, with the RSI for the last a single of trading hit 33.66, and the three-weeks RSI is set at 41.30 for G-III Apparel Group Ltd. [GIII]. The present Moving Average for the last 50 days of trading for this stock 12.55, while it was recorded at 10.33 for the last single week of trading, and 19.35 for the last 200 days.

G-III Apparel Group Ltd. [GIII]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and G-III Apparel Group Ltd. [GIII] shares currently have an operating margin of +7.82 and a Gross Margin at +34.15. G-III Apparel Group Ltd.’s Net Margin is presently recorded at +4.55.

Return on Total Capital for GIII is now 13.82, given the latest momentum, and Return on Invested Capital for the company is 8.19. Return on Equity for this stock inclined to 11.60, with Return on Assets sitting at 6.03. When it comes to the capital structure of this company, G-III Apparel Group Ltd. [GIII] has a Total Debt to Total Equity ratio set at 54.98. Additionally, GIII Total Debt to Total Capital is recorded at 35.48, with Total Debt to Total Assets ending up at 27.67. Long-Term Debt to Equity for the company is recorded at 50.04, with the Long-Term Debt to Total Capital now at 32.29.

Reflecting on the efficiency of the workforce at the company, G-III Apparel Group Ltd. [GIII] managed to generate an average of $17,758 per employee. Receivables Turnover for the company is 6.12 with a Total Asset Turnover recorded at a value of 1.32.G-III Apparel Group Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 4.00.

Earnings per share (EPS) analysis for G-III Apparel Group Ltd. [GIII] stock

With the latest financial reports released by the company, G-III Apparel Group Ltd. posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GIII. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for G-III Apparel Group Ltd. go to 0.95%.

G-III Apparel Group Ltd. [GIII]: Insider Ownership positions

There are presently around $461 million, in the hands of institutional investors. The top three institutional holders of GIII stocks are: BLACKROCK INC. with ownership of 6,880,331, which is approximately -1.388% of the company’s market cap and around 11.40% of the total institutional ownership; VANGUARD GROUP INC, holding 4,585,437 shares of the stock with an approximate value of $44.66 million in GIII stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $39.15 million in GIII stock with ownership of nearly -1.216% of the company’s market capitalization.

Positions in G-III Apparel Group Ltd. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 105 institutional holders increased their position in G-III Apparel Group Ltd. [NASDAQ:GIII] by around 7,734,327 shares. Additionally, 99 investors decreased positions by around 9,814,083 shares, while 26 investors held positions by with 29,784,010 shares. The mentioned changes placed institutional holdings at 47,332,420 shares, according to the latest SEC report filing. GIII stock had 32 new institutional investments in for a total of 1,965,620 shares, while 44 institutional investors sold positions of 4,379,302 shares during the same period.

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