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

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 report issued on Thursday.

Several other brokerages have also recently commented on GIII. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Barclays lifted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, KeyCorp increased their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $28.80.

G-III Apparel Group Trading Up 5.7 %

G-III Apparel Group stock opened at $30.11 on Thursday. The firm has a market cap of $1.35 billion, a PE ratio of 7.88 and a beta of 2.19. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $27.86 and its two-hundred day simple moving average is $27.75. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68.

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

Insider Activity at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the sale, the chief executive officer now owns 3,990,085 shares in the company, valued at $126,046,785.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.40% of the stock is currently owned by company insiders.

Institutional Trading of G-III Apparel Group

Several hedge funds have recently added to or reduced their stakes in GIII. CastleKnight Management LP purchased a new stake in shares of G-III Apparel Group in the 4th quarter valued at approximately $2,015,000. Foundry Partners LLC purchased a new position in G-III Apparel Group in the second quarter valued at $518,000. SG Americas Securities LLC raised its stake in G-III Apparel Group by 114.0% in the first quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock valued at $1,054,000 after buying an additional 19,362 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in G-III Apparel Group during the 1st quarter worth about $913,000. Finally, Caxton Associates LP lifted its holdings in G-III Apparel Group by 283.2% during the 1st quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock worth $1,002,000 after buying an additional 25,535 shares during 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.