StockNews.com Upgrades G-III Apparel Group (NASDAQ:GIII) to “Buy”

StockNews.com upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a buy rating in a report issued on Wednesday morning.

Other equities research analysts have also issued reports about the stock. Telsey Advisory Group lowered their price objective on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 14th. Guggenheim raised their price objective on 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. KeyCorp lifted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Barclays dropped their target price on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Tuesday, March 18th. Finally, UBS Group decreased their price target on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $27.26 on Wednesday. The company has a market capitalization of $1.20 billion, a P/E ratio of 7.15 and a beta of 2.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18. The company has a fifty day moving average of $28.68 and a 200-day moving average of $30.46.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.30. The firm had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 earnings per share. As a group, equities research analysts predict that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GIII. Phocas Financial Corp. grew its position in shares of G-III Apparel Group by 84.4% in the 4th quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker’s stock worth $7,634,000 after buying an additional 107,082 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in G-III Apparel Group in the fourth quarter valued at $3,970,000. Public Employees Retirement System of Ohio purchased a new position in G-III Apparel Group during the 4th quarter valued at $68,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in G-III Apparel Group by 16.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 74,135 shares of the textile maker’s stock worth $2,418,000 after purchasing an additional 10,320 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of G-III Apparel Group in the 4th quarter worth about $217,000. 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.