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

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

A number of other research analysts also recently issued reports on GIII. KeyCorp raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Barclays lifted their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. Finally, Guggenheim started coverage on shares of G-III Apparel Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective on the stock. Two investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

G-III Apparel Group Stock Up 1.2 %

G-III Apparel Group stock opened at $31.76 on Monday. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The stock has a market cap of $1.39 billion, a PE ratio of 7.94 and a beta of 2.14. The stock’s fifty day moving average is $30.54 and its two-hundred day moving average is $28.50.

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

Insider Activity

In other news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. This represents a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.40% of the company’s stock.

Institutional Trading of G-III Apparel Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in G-III Apparel Group in the second quarter valued at about $42,000. CWM LLC raised its holdings in G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares during the last quarter. Quarry LP purchased a new stake in G-III Apparel Group during the third quarter worth $63,000. Point72 DIFC Ltd acquired a new stake in G-III Apparel Group in the second quarter valued at $78,000. Finally, Innealta Capital LLC purchased a new position in shares of G-III Apparel Group in the second quarter valued at $124,000. Institutional investors and hedge funds 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.