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

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

A number of other brokerages also recently weighed in on GIII. Wells Fargo & Company reduced their target price on G-III Apparel Group from $24.00 to $23.00 and set an underweight rating on the stock in a report on Friday, March 15th. Telsey Advisory Group reaffirmed a market perform rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Monday, June 3rd. UBS Group reduced their target price on G-III Apparel Group from $34.00 to $31.00 and set a neutral rating on the stock in a report on Monday, March 18th. Finally, TheStreet raised G-III Apparel Group from a c+ rating to a b rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, G-III Apparel Group currently has an average rating of Hold and an average price target of $27.60.

G-III Apparel Group Trading Down 0.4 %

Shares of NASDAQ:GIII opened at $26.47 on Thursday. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.93 and a beta of 2.24. G-III Apparel Group has a 1 year low of $18.47 and a 1 year high of $35.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.79 and a quick ratio of 2.62. The business’s 50 day simple moving average is $27.97 and its 200 day simple moving average is $29.59.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. The firm had revenue of $609.75 million for the quarter, compared to the consensus estimate of $615.10 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. On average, research analysts anticipate that G-III Apparel Group will post 3.63 EPS for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Several hedge funds have recently modified their holdings of GIII. AQR Capital Management LLC boosted its holdings in shares of G-III Apparel Group by 7.2% during the 3rd quarter. AQR Capital Management LLC now owns 180,887 shares of the textile maker’s stock valued at $4,508,000 after acquiring an additional 12,102 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in G-III Apparel Group by 39.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker’s stock worth $16,585,000 after buying an additional 189,239 shares during the period. Walleye Capital LLC acquired a new position in G-III Apparel Group during the 3rd quarter worth about $2,280,000. American Century Companies Inc. lifted its holdings in G-III Apparel Group by 38.1% during the 3rd quarter. American Century Companies Inc. now owns 262,165 shares of the textile maker’s stock worth $6,533,000 after buying an additional 72,333 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in G-III Apparel Group by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock worth $117,180,000 after buying an additional 92,673 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.