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

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

Other analysts also recently issued reports about the stock. KeyCorp increased their price target 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. Barclays increased their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a report on Thursday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.80.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII traded up $1.63 during trading hours on Friday, hitting $32.18. 1,179,109 shares of the stock were exchanged, compared to its average volume of 598,175. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.79 and a quick ratio of 2.62. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68. The company’s 50 day moving average is $26.18 and its 200 day moving average is $27.77. The firm has a market capitalization of $1.45 billion, a P/E ratio of 8.42 and a beta of 2.24.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $649.54 million. During the same period in the prior year, the firm earned $0.40 EPS. The business’s revenue was down 2.3% on a year-over-year basis. On average, research analysts expect that G-III Apparel Group will post 3.63 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of G-III Apparel Group by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after buying an additional 292,668 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of G-III Apparel Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after purchasing an additional 151,425 shares in the last quarter. American Century Companies Inc. increased its position in shares of G-III Apparel Group by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock worth $31,054,000 after purchasing an additional 155,079 shares in the last quarter. LSV Asset Management increased its position in shares of G-III Apparel Group by 0.6% during the 2nd quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock worth $23,055,000 after purchasing an additional 5,200 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of G-III Apparel Group by 142.8% during the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after purchasing an additional 206,993 shares in the last quarter. Institutional investors and hedge funds 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.