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

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

Other research analysts have also recently issued research reports about the stock. Barclays lifted their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, KeyCorp boosted their price target on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.80.

G-III Apparel Group Stock Down 4.2 %

GIII stock opened at $29.18 on Thursday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 7.64 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The business’s 50-day moving average is $27.80 and its two-hundred day moving average is $27.75. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $35.68.

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

Insider Activity

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the sale, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

Institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in shares of G-III Apparel Group during the second quarter worth $78,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group in the 2nd quarter worth $42,000. Sanctuary Advisors LLC bought a new position in shares of G-III Apparel Group during the 2nd quarter valued at about $382,000. Point72 Asset Management L.P. purchased a new position in shares of G-III Apparel Group during the second quarter valued at about $2,409,000. Finally, AQR Capital Management LLC increased its holdings in shares of G-III Apparel Group by 37.9% in the second quarter. AQR Capital Management LLC now owns 285,981 shares of the textile maker’s stock worth $7,742,000 after purchasing an additional 78,607 shares during the last quarter. 92.13% of the stock is 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.