G-III Apparel Group (NASDAQ:GIII) Upgraded by StockNews.com to Buy Rating

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 equities analysts have also recently weighed in on GIII. Barclays raised their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Guggenheim boosted their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. KeyCorp upped their price objective on shares of 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. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a research note on Wednesday, December 18th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.17.

G-III Apparel Group Price Performance

GIII stock opened at $30.91 on Friday. The firm has a 50 day simple moving average of $31.89 and a two-hundred day simple moving average of $29.62. The stock has a market cap of $1.36 billion, a PE ratio of 8.11 and a beta of 2.09. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $2.78 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth about $513,000. SG Americas Securities LLC raised its position in G-III Apparel Group by 124.1% during the 4th quarter. SG Americas Securities LLC now owns 16,482 shares of the textile maker’s stock valued at $538,000 after purchasing an additional 9,128 shares during the last quarter. Range Financial Group LLC purchased a new stake in G-III Apparel Group in the 4th quarter worth approximately $303,000. JPMorgan Chase & Co. grew its position in shares of G-III Apparel Group by 80.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after buying an additional 59,718 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of G-III Apparel Group by 7.4% in the 3rd quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock worth $1,682,000 after buying an additional 3,806 shares during the last quarter. 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.