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 research report released on Friday.

Several other research analysts have also issued reports on the stock. Telsey Advisory Group reiterated a market perform rating and issued a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. 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 report on Friday. Finally, Barclays increased their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an underweight rating in a research report on Friday. Two research 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’s stock. Based on data from MarketBeat.com, G-III Apparel Group presently has a consensus rating of Hold and an average price target of $28.80.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $30.85 on Friday. The stock has a market cap of $1.39 billion, a P/E ratio of 8.08 and a beta of 2.19. The company has a quick ratio of 2.62, a current ratio of 3.79 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average price is $26.26 and its two-hundred day moving average price is $27.69. G-III Apparel Group has a twelve month low of $20.66 and a twelve month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share 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 12.79%. The business had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. During the same period last year, the firm posted $0.40 earnings per share. G-III Apparel Group’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts predict that G-III Apparel Group will post 4.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GIII. Newbridge Financial Services Group Inc. purchased a new stake in G-III Apparel Group during the 1st quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group during the second quarter valued at approximately $42,000. CWM LLC grew its holdings in shares of G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares during the last quarter. Quest Partners LLC bought a new position in shares of G-III Apparel Group in the fourth quarter worth approximately $56,000. Finally, Point72 DIFC Ltd purchased a new position in shares of G-III Apparel Group in the second quarter worth $78,000. Hedge funds and other institutional investors 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.