G-III Apparel Group (NASDAQ:GIII) Lifted 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 note published on Sunday.

A number of other equities research analysts have also recently issued reports on the stock. Barclays boosted their target price 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, September 6th. Telsey Advisory Group reissued a market perform rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. Finally, KeyCorp raised their target price on G-III Apparel Group from $32.00 to $34.00 and gave the stock an overweight rating in a research note on Friday, September 6th. Two 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.com, G-III Apparel Group has an average rating of Hold and a consensus target price of $28.80.

G-III Apparel Group Stock Down 4.8 %

Shares of NASDAQ GIII opened at $30.05 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The stock has a market capitalization of $1.35 billion, a PE ratio of 7.87 and a beta of 2.19. G-III Apparel Group has a one year low of $20.66 and a one year high of $35.68. The business’s fifty day moving average price is $27.42 and its 200-day moving average price is $27.69.

G-III Apparel Group (NASDAQ:GIII) last released 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 business had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts anticipate that G-III Apparel Group will post 4.01 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of G-III Apparel Group by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock worth $146,408,000 after purchasing an additional 292,668 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after buying an additional 151,425 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of G-III Apparel Group by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock worth $31,054,000 after buying an additional 155,079 shares during the last quarter. LSV Asset Management raised 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 valued at $23,055,000 after buying an additional 5,200 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings 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 acquiring an additional 206,993 shares during the last quarter. 92.13% of the stock is currently owned by 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.