G-III Apparel Group (NASDAQ:GIII) Raised 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 report released on Sunday morning.

Other equities research analysts have also recently issued reports about the stock. KeyCorp boosted their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an overweight rating in a research report on Friday, September 6th. Telsey Advisory Group reiterated a market perform rating and issued a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, Barclays boosted their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an underweight rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $28.80.

G-III Apparel Group Stock Performance

GIII stock opened at $31.57 on Friday. The company has a market capitalization of $1.42 billion, a P/E ratio of 8.26 and a beta of 2.19. The company has a 50-day simple moving average of $27.35 and a 200 day simple moving average of $27.68. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict that G-III Apparel Group will post 4.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

A number of large investors have recently made changes to their positions in GIII. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $42,000. Quest Partners LLC bought a new stake in shares of G-III Apparel Group in the 4th quarter valued at approximately $56,000. CWM LLC grew its stake in shares of G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after buying an additional 1,012 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $78,000. Finally, Innealta Capital LLC bought a new stake in shares of G-III Apparel Group in the 2nd quarter valued at approximately $124,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.