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 note issued to investors on Friday.

Several other brokerages have also weighed in on GIII. KeyCorp increased their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays raised 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. Guggenheim raised 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 research note on Wednesday, December 11th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.17.

G-III Apparel Group Stock Up 1.0 %

GIII opened at $30.91 on Friday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.11 and a beta of 2.09. G-III Apparel Group has a 12 month low of $20.66 and a 12 month 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. The business has a 50-day moving average of $31.89 and a two-hundred day moving average of $29.66.

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. The firm had revenue of $1.09 billion during 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%. G-III Apparel Group’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.78 earnings per share. On average, research analysts expect that G-III Apparel Group will post 4.16 earnings per share for the current year.

Hedge Funds Weigh In On G-III Apparel Group

Several large investors 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 2nd quarter worth about $42,000. Quarry LP acquired a new position in G-III Apparel Group in the third quarter valued at approximately $63,000. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth approximately $78,000. CWM LLC grew its stake in G-III Apparel Group by 46.8% during the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock worth $85,000 after buying an additional 885 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in G-III Apparel Group in the third quarter worth $152,000. 92.13% of the stock is currently owned by institutional investors.

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.