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 report sent to investors on Friday.

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

G-III Apparel Group Stock Up 1.0 %

GIII stock opened at $30.91 on Friday. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The stock has a market cap of $1.36 billion, a P/E ratio of 8.11 and a beta of 2.09. The stock’s fifty day simple moving average is $31.89 and its two-hundred day simple moving average is $29.62. 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 issued its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.78 EPS. Analysts expect that G-III Apparel Group will post 4.16 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GIII. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of G-III Apparel Group in the second quarter valued at approximately $42,000. Quarry LP purchased a new stake in G-III Apparel Group in the 3rd quarter worth approximately $63,000. Point72 DIFC Ltd bought a new position in G-III Apparel Group in the 2nd quarter valued at $78,000. CWM LLC boosted its holdings in G-III Apparel Group by 46.8% in the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 885 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of G-III Apparel Group during the 3rd quarter valued at $152,000. 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.