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 report released on Sunday.

A number of other equities analysts have also weighed in on the stock. Telsey Advisory Group reaffirmed a market perform rating and issued a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. Barclays upped their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an underweight rating in a research note on Friday, September 6th. Finally, KeyCorp upped their target price on shares of 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 investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $28.80.

G-III Apparel Group Price Performance

GIII opened at $31.71 on Friday. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a fifty day simple moving average of $27.14 and a 200 day simple moving average of $27.65. The stock has a market cap of $1.43 billion, a P/E ratio of 8.30 and a beta of 2.19.

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 analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts expect that G-III Apparel Group will post 4.01 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

A number of large investors have recently modified their holdings of GIII. Texas Permanent School Fund Corp lifted its stake in G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after purchasing an additional 482 shares during the last quarter. Mutual Advisors LLC lifted its stake in G-III Apparel Group by 1.0% in the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after purchasing an additional 498 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after purchasing an additional 516 shares during the last quarter. Hsbc Holdings PLC lifted its stake in G-III Apparel Group by 1.1% in the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock valued at $1,640,000 after purchasing an additional 532 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after acquiring an additional 572 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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.