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

G-III Apparel Group (NASDAQ:GIII) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other research analysts have also weighed in on the stock. KeyCorp boosted their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Guggenheim lifted 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 research report on Wednesday, December 11th. Barclays increased their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 target price 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 company. According to MarketBeat, G-III Apparel Group presently has a consensus rating of “Hold” and an average price target of $33.17.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $30.91 on Friday. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.11 and a beta of 2.09. 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 200-day moving average of $29.64.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share 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 firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned $2.78 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors and hedge funds have recently modified their holdings of GIII. Vestcor Inc boosted its holdings in G-III Apparel Group by 197.7% in the 3rd quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after purchasing an additional 20,800 shares during the period. Geode Capital Management LLC raised its position in shares of G-III Apparel Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after buying an additional 11,196 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of G-III Apparel Group by 8.4% in the third quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after buying an additional 1,126 shares during the period. Jane Street Group LLC grew its position in G-III Apparel Group by 269.9% during the third 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 in the last quarter. Finally, Victory Capital Management Inc. increased its stake in G-III Apparel Group by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock worth $2,812,000 after acquiring an additional 4,294 shares during the period. 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.