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

G-III Apparel Group (NASDAQ:GIII) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other equities research analysts have also weighed in on the company. Guggenheim upped their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. KeyCorp upped their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Finally, Barclays boosted their target price on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Hold” and a consensus price target of $33.17.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $30.59 on Friday. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.03 and a beta of 2.09. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. The business has a fifty day simple moving average of $31.90 and a 200 day simple moving average of $29.58. 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 quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm earned $2.78 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Sell-side analysts expect that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Trading of G-III Apparel Group

Several hedge funds have recently modified their holdings of GIII. Range Financial Group LLC bought a new position in G-III Apparel Group in the 4th quarter valued at $303,000. JPMorgan Chase & Co. boosted its holdings in G-III Apparel Group by 80.9% in the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock valued at $4,075,000 after acquiring an additional 59,718 shares during the last quarter. Franklin Resources Inc. increased its position in G-III Apparel Group by 7.4% in the third quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock worth $1,682,000 after purchasing an additional 3,806 shares during the period. Sanctuary Advisors LLC raised its holdings in G-III Apparel Group by 8.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock worth $439,000 after purchasing an additional 1,126 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in G-III Apparel Group during the 3rd quarter valued at about $211,000. 92.13% of the stock is 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.