G-III Apparel Group (NASDAQ:GIII) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a buy rating in a research report released on Friday morning.

A number of other analysts also recently issued reports on GIII. Barclays raised their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an underweight rating in a research report on Friday. Telsey Advisory Group reissued a market perform rating and issued a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday. Finally, KeyCorp upped their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an overweight rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group currently has an average rating of Hold and an average price target of $28.80.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII opened at $32.18 on Friday. The company has a market capitalization of $1.45 billion, a P/E ratio of 8.42 and a beta of 2.24. The company’s 50-day moving average is $26.18 and its 200 day moving average is $27.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.62 and a current ratio of 3.79. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a net margin of 5.76% and a return on equity of 12.75%. The firm had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that G-III Apparel Group will post 3.63 earnings per share for the current year.

Institutional Trading of G-III Apparel Group

Institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. purchased a new position in G-III Apparel Group during the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in G-III Apparel Group during the second quarter valued at approximately $42,000. CWM LLC lifted its stake in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares in the last quarter. Quest Partners LLC bought a new position in G-III Apparel Group in the 4th quarter valued at $56,000. Finally, Point72 DIFC Ltd bought a new position in G-III Apparel Group in the 2nd quarter valued at $78,000. Hedge funds and other 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.