G-III Apparel Group (NASDAQ:GIII) Upgraded 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 issued to investors on Monday.

A number of other research firms have also weighed in on GIII. Barclays upped their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. KeyCorp upped their price objective on 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. Guggenheim initiated coverage on G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.00.

G-III Apparel Group Stock Up 5.9 %

Shares of NASDAQ GIII opened at $31.38 on Monday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 7.85 and a beta of 2.19. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68. The business’s 50 day moving average is $30.54 and its two-hundred day moving average is $28.48.

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

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On G-III Apparel Group

Several large investors have recently bought and sold shares of GIII. Point72 Asia Singapore Pte. Ltd. acquired a new position in G-III Apparel Group in the second quarter valued at $42,000. CWM LLC boosted its stake in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after buying an additional 1,012 shares during the period. Quarry LP acquired a new stake in shares of G-III Apparel Group during the third quarter worth about $63,000. Point72 DIFC Ltd acquired a new stake in shares of G-III Apparel Group during the second quarter worth about $78,000. Finally, Innealta Capital LLC acquired a new stake in shares of G-III Apparel Group during the second quarter worth about $124,000. 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.