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

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

Several other equities analysts have also commented on GIII. KeyCorp raised their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, Barclays upped their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and an average target price of $28.80.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $29.18 on Thursday. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $35.68. The stock has a market capitalization of $1.31 billion, a P/E ratio of 7.64 and a beta of 2.19. The company’s 50-day moving average is $27.80 and its 200 day moving average is $27.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80.

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

Insider Buying and Selling

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.40% of the stock is currently owned by company insiders.

Institutional Trading of G-III Apparel Group

Several institutional investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its stake in shares of G-III Apparel Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock worth $1,033,000 after purchasing an additional 482 shares during the last quarter. Mutual Advisors LLC lifted its stake in G-III Apparel Group by 1.0% during the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after acquiring an additional 498 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of G-III Apparel Group by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after acquiring an additional 516 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of G-III Apparel Group by 1.1% during the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock valued at $1,640,000 after acquiring an additional 532 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of G-III Apparel Group by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after acquiring an additional 572 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

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.