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

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

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

G-III Apparel Group Trading Up 5.7 %

NASDAQ GIII opened at $30.11 on Thursday. The firm has a market cap of $1.35 billion, a PE ratio of 7.88 and a beta of 2.19. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $35.68. The stock has a 50-day moving average of $27.92 and a 200-day moving average of $27.78. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $0.40 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that G-III Apparel Group will post 4.01 EPS for the current year.

Insider Buying and Selling

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 shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 12.40% of the stock is owned by insiders.

Hedge Funds Weigh In On G-III Apparel Group

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