G-III Apparel Group (NASDAQ:GIII) Upgraded 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 sent to investors on Friday morning.

Several other analysts also recently weighed in on GIII. Guggenheim lifted their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. Barclays boosted their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Finally, KeyCorp raised their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $30.91 on Friday. The stock’s 50-day moving average price is $31.89 and its 200 day moving average price is $29.66. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.36 billion, a PE ratio of 8.11 and a beta of 2.09. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $2.78 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP increased its stake in G-III Apparel Group by 142.8% in the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after purchasing an additional 206,993 shares in the last quarter. Barclays PLC increased its position in shares of G-III Apparel Group by 236.4% in the third quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock valued at $8,627,000 after buying an additional 198,647 shares in the last quarter. Jane Street Group LLC raised its stake in shares of G-III Apparel Group by 269.9% during the 3rd quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after buying an additional 183,246 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after buying an additional 151,425 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of G-III Apparel Group in the 3rd quarter worth about $3,671,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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.