G-III Apparel Group (NASDAQ:GIII) Upgraded at StockNews.com

G-III Apparel Group (NASDAQ:GIII) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other research analysts have also recently weighed in on GIII. Telsey Advisory Group reduced their price target on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 14th. UBS Group dropped their price objective on shares of 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. Guggenheim increased their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays cut their price target on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. Finally, KeyCorp increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII traded up $0.15 during trading hours on Wednesday, hitting $27.26. 555,598 shares of the company were exchanged, compared to its average volume of 523,606. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $36.18. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 7.15 and a beta of 2.09. The company’s 50 day moving average price is $28.68 and its 200-day moving average price is $30.46.

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

Institutional Investors Weigh In On G-III Apparel Group

A number of hedge funds have recently modified their holdings of GIII. AlphaQuest LLC purchased a new stake in G-III Apparel Group during the 4th quarter valued at about $49,000. Quarry LP acquired a new position in shares of G-III Apparel Group during the 3rd quarter worth approximately $63,000. Smartleaf Asset Management LLC grew its position in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in G-III Apparel Group during the fourth quarter worth approximately $68,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after buying an additional 1,460 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

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.