G-III Apparel Group (NASDAQ:GIII) Rating Increased to Buy at StockNews.com

G-III Apparel Group (NASDAQ:GIII) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp boosted their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Hold” and a consensus target price of $28.80.

G-III Apparel Group Trading Up 0.3 %

Shares of NASDAQ:GIII opened at $31.82 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 2.92. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.33 and a beta of 2.19. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68. The company has a 50 day moving average price of $27.26 and a 200 day moving average price of $27.66.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The company had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, research analysts anticipate that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

A number of institutional investors have recently modified their holdings of the company. Texas Permanent School Fund Corp grew its stake in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after buying an additional 482 shares during the last quarter. Mutual Advisors LLC lifted its position in shares of G-III Apparel Group by 1.0% during the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock worth $1,431,000 after purchasing an additional 498 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in G-III Apparel Group by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after purchasing an additional 516 shares during the period. Hsbc Holdings PLC grew its holdings in G-III Apparel Group by 1.1% in the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock valued at $1,640,000 after buying an additional 532 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after buying an additional 572 shares during the period. Institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

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.