G-III Apparel Group (NASDAQ:GIII) Rating Increased 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 report released on Friday.

A number of other research analysts have also recently weighed in on GIII. KeyCorp boosted their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an overweight rating in a research note on Friday. Telsey Advisory Group reiterated a market perform rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. Finally, Barclays raised their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an underweight rating in a research report on Friday. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $28.80.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $30.85 on Friday. 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 company has a market capitalization of $1.39 billion, a PE ratio of 8.08 and a beta of 2.19. The stock’s 50 day moving average price is $26.26 and its 200-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 quarterly earnings data 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. The firm had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. G-III Apparel Group had a return on equity of 12.79% and a net margin of 6.04%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. On average, equities analysts anticipate that G-III Apparel Group will post 4.01 EPS for the current year.

Institutional Investors Weigh In On G-III Apparel Group

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of G-III Apparel Group by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after purchasing an additional 292,668 shares during the period. Norges Bank bought a new stake in shares of G-III Apparel Group during the fourth quarter valued at about $9,440,000. F M Investments LLC purchased a new stake in shares of G-III Apparel Group in the second quarter worth about $6,796,000. Marshall Wace LLP lifted its holdings in shares of G-III Apparel Group by 142.8% in the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after buying an additional 206,993 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of G-III Apparel Group by 15.6% in the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after acquiring an additional 155,079 shares during the period. 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.