G-III Apparel Group (NASDAQ:GIII) Rating Increased to Buy at 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 sent to investors on Wednesday morning.

A number of other brokerages also recently issued reports on GIII. Telsey Advisory Group cut their target price on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 14th. KeyCorp raised their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays decreased their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Tuesday, March 18th. Guggenheim raised their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, UBS Group decreased their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned 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 $33.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $27.22 on Wednesday. The company has a market cap of $1.19 billion, a P/E ratio of 7.14 and a beta of 2.09. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $36.18. The company’s 50-day moving average price is $28.54 and its 200-day moving average price is $30.41. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. On average, sell-side analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

A number of institutional investors and hedge funds have recently made changes to their positions in GIII. AlphaQuest LLC acquired a new stake in G-III Apparel Group in the 4th quarter valued at approximately $49,000. Quarry LP purchased a new position in shares of G-III Apparel Group during the third quarter worth $63,000. Smartleaf Asset Management LLC grew its stake in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after buying an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of G-III Apparel Group in the 4th quarter valued at $68,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after acquiring an additional 1,460 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Company Profile

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.